NRG invests in NY, Calif.:
San Diego Gas & Electric selected a partnership of Dynegy Inc. of Houston and NRG Energy Inc. of Minneapolis as the winning bidder to acquire the 951 MW Encina power plant in Carlsbad, Calif. The Dynegy/NRG partnership agreed to pay $356 million for the plant and 17 peaking turbines, which represents a premium of 3.8 times book value for the assets. The Encina plant sale completes the sale of SDG&E`s fossil-fired generators.
Separately, NRG agreed to pay $355 million for two Niagara Mohawk coal-fired power plants. Book value for the Dunkirk (600 MW) and Huntley (760 MW) stations totaled $370 million.