Entergy Announces Hot Spring, Hinds Power Plants Acquisitions to Close by End of Year
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NEW ORLEANS, Nov. 14, 2012 /PRNewswire/ -- Today's announcement from the U.S. Department of Justice has cleared the way for the acquisition by two Entergy Corporation utility subsidiaries of the Hot Spring and Hinds power plants from units of KGen Power Corporation, paving the way for both transactions to close by the end of 2012.
The transactions had already received the necessary regulatory approvals to close, including approvals from the Federal Energy Regulatory Commission and applicable state utility commissions. As a result, the transactions are expected to close by the end of 2012, subject to customary closing conditions.
Entergy Arkansas, Inc. is purchasing the 620-megawatt Hot Spring plant from KGen Hot Spring LLC. The total expected cost is $277 million. The combined-cycle natural gas-fired plant, which started commercial operations in 2002, is located in Hot Spring County, Ark.
Entergy Mississippi, Inc. is buying the 450-megawatt Hinds plant from KGen Hinds LLC. The total expected cost is $246 million. The Hinds plant, also a combined-cycle natural gas-fired unit, began operations in 2001 and is located in Jackson, Miss.
Entergy Corporation 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 more than 10,000 megawatts of nuclear power, making it one of the nation's leading nuclear generators. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $11 billion and approximately 15,000 employees.
Additional investor information can be accessed online at www.entergy.com/investor_relations
SOURCE Entergy Corporation