Entergy Announces Hot Spring, Hinds Power Plants Acquisitions to
Close by End of Year
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.
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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