Washington-based Carlyle Group announced today it has purchased the Red Oak power generation facility in Sayerville. Financial terms of the purchase were not disclosed.
The Red Oak buy, along with five others announced today, brings Carlyle's total acquisitions spending since late 2012 to $1.2 billion.
According to the announcement, Red Oak, which is being acquired from Energy Capital Partners, is a highly efficient, 823-MW natural gas-fired combined-cycle power plant. Red Oak currently operates under a long-term power purchase agreement and is part of the PJM Interconnection, the world’s largest and most liquid-competitive power market, the company said in a statement.
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