Entergy completes sale of 583-MW plant in Rhode Island to Carlyle

Entergy Corp. (NYSE: ETR) announced Dec. 17 that its wholesale generation division, Entergy Wholesale Commodities, has closed on the sale of its 583-MW Rhode Island State Energy Center (RISEC) in Johnston, R.I., to Carlyle Power Partners.

Entergy had announced Oct. 8 that it had entered into an agreement to sell the natural gas-fired, combined-cycle plant to Carlyle. The base sales price, excluding adjustments, is approximately $490 million. Entergy Wholesale Commodities purchased RISEC for $346 million in December 2011.

“RISEC has been a good investment for us, and its sale is consistent with our strategy for Entergy Wholesale Commodities – to be disciplined about reducing risk and freeing up financial resources for other opportunities,” said Entergy Chairman and CEO Leo Denault.

The Federal Energy Regulatory Commission on Dec. 11 approved the sale by Entergy of this plant. This is located within the ISO New England market. The project company sells the entire capacity and energy output of the facility to its affiliate, Entergy Nuclear Power Marketing LLC, a wholesale power marketer.

Entergy Corp. is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 10,000 megawatts of nuclear power, making it one of the nation’s leading nuclear generators.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.