Luminant, one of the biggest electric power generators in Texas, has agreed to buy two East Texas electric power plants from NextEra for $1.3 billion.
The acquisition of the Forney Energy Center east of Dallas and the Lamar Energy Center in Paris would add almost 3,000 megawatts of generating capacity to the Luminant system. Luminant already has more than 13,700 of generating capacity in Texas.
The acquisition is expected to close next spring, pending regulatory approvals.
Luminant is owned by the Dallas-based Energy Future Holdings Corp., which is presently in bankruptcy proceedings. The Luminant statement says the U.S. Bankruptcy Court and company creditors have approved the acquisition.
Copyright AP - Associated Press
