HOUSTON, Feb. 23 /PRNewswire-FirstCall/ -- Reliant Energy (NYSE: RRI)
today completed the previously announced sale of its three New York City power
plants for approximately $975 million to Astoria Generating Company
Acquisitions, LLC, an entity formed by an investor group led by Madison
Dearborn Partners and New York City-based US Power Generating Company.
The generating assets involved in the sale include the Astoria, Gowanus
and Narrows plants, which have a combined summer capacity rating of
approximately 2,100 megawatts. Net unrestricted proceeds from the sale will be
used to reduce debt.
Reliant Energy, Inc. based in Houston, Texas, provides electricity and
energy services to retail and wholesale customers in the United States. In
Texas, the company provides service to approximately 1.9 million retail
electricity customers, including residential and small business customers and
large commercial, industrial, governmental and institutional customers.
Reliant also serves commercial, industrial, governmental and institutional
customers in the PJM (Pennsylvania, New Jersey and Maryland) market.
The company is one of the largest independent power producers in the
nation with approximately 16,000 megawatts of power generation capacity across
the United States. These strategically located generating assets utilize
natural gas, fuel oil and coal. For more information, visit
http://www.reliant.com/corporate .
SOURCE Reliant Energy, Inc.
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Related links:
http://www.reliant.com/corporate
CONTACT:
media, Pat Hammond, +1-713-497-7723, or
investors, Kevin Kremke, +1-713-497-5468, both of Reliant Energy,
Inc.
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