Canadian Manufacturing

Direct Energy selling trio of natural gas plants in Texas for $685M

Units in Bastrop, Mission, and Paris, Texas, have combined capacity of nearly 1,300 megawatts



HOUSTON—Direct Energy has announced plans to sell its three natural gas-fired power plants in Texas to asset manager firm Blackstone in a $685-million cash deal.

The sale will be made through Direct Energy Power Holdings Inc.

The units are located in Bastrop, Mission, and Paris, Texas, and have a combined capacity of nearly 1,300 megawatts.

The agreement with New York-based Blackstone is subject to regulatory review and should close in early 2014.

Direct Energy is a subsidiary of Centrica PLC.

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