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Centrica Plc to sell Texas gas-fired power stations

Wednesday, 18 Dec 2013 04:15am EST 

Centrica Plc:Says its North American subsidiary, Direct Energy, has agreed to sell its Texas gas-fired power stations to Blackstone for $685 million (420 million pounds) in cash.Says the three units, located in Paris, Bastrop, and Mission, have a combined capacity of 1,295MW.Says as part of the transaction, Direct Energy has also entered into a three year call option arrangement for an equivalent amount of capacity with Blackstone.Says the transaction is subject to customary regulatory approvals and is expected to close in the first quarter of 2014. 

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