Direct Energy Completes Sale Of Three Texas Power Plants To Blackstone

News provided by

Jan 17, 2014, 12:42 ET

HOUSTON, Jan. 17, 2014 /PRNewswire/ -- Direct Energy, a subsidiary of Centrica plc (LSE: CNA), today completed the previously announced sale of three gas-fired power generation facilities in Texas to Blackstone (NYSE: BX).

(Logo: http://photos.prnewswire.com/prnh/20121004/MM87276LOGO)

The facilities, located in Bastrop, Mission, and Paris, are part of the Electric Reliability Council of Texas' (ERCOT) North and South zones and total approximately 1,295 megawatts (MW) of capacity.

As part of the transaction, an affiliate of Direct Energy has entered into a three year call option arrangement for an equivalent amount of capacity with Blackstone.

About Direct Energy
Direct Energy is one of North America's largest energy and energy-related services providers with more than six million residential and commercial customer relationships. Direct Energy provides customers with choice and support in managing their energy costs through a portfolio of innovative products and services. A subsidiary of Centrica plc (LSE:CNA), one of the world's leading integrated energy companies, Direct Energy operates in 46 U.S. states plus the District of Columbia and 10 provinces in Canada. For more information, visit www.directenergy.com.

SOURCE Direct Energy