The Federal Energy Regulatory Commission has approved NRG Energy Inc. to sell the 1,113-MW natural gas- and oil-fired Canal power plant in Massachusetts to private investors.
Stonepeak Kestrel Holdings is an affiliate of New York-headquartered private equity firm Stonepeak Infrastructure Partners.
NRG subsidiary GenOn Energy Inc. announced on March 23 the deal to sell Canal to Stonepeak as part of GenOn's reorganization plan. GenOn said in March it expects proceeds of $390.3 million from the transaction.
NRG Canal also owns the 5.6-MW West Tisbury and 8.4-MW Oak Bluffs internal combustion plants, but they are not included in the transaction. (FERC docket EC18-83)
