Cleco To Buy NRG Power Plants That Serve Louisiana Customers

PINEVILLE, La. (AP) — Central Louisiana electric utility Cleco is acquiring NRG power plants that serve nine power cooperatives throughout Louisiana.

The Advocate reports that under the deal to acquire NRG's South Central business, the Pineville-based company would get five power generation stations, including Big Cajun in Jarreau, Big Cajun II in New Roads, Bayou Cove in Jennings, Sterlington in Sterlington and Cottonwood in Deweyville, Texas. NRG would lease back Cottonwood and operate it until May 2025.

The proposed $1 billion deal is subject to approval by federal and state regulators and set to close before the end of 2018.

The plants provide power to Louisiana electric cooperatives: Northeast Louisiana Power; Claiborne Electric Co-op; Concordia Electric Cooperative; Pointe Coupee Electric Membership; Jeff Davis Electric Co-op; SLEMCO; Washington-St. Tammany Electric; Beauregard Electric Cooperative; and SLECA.

Categories: Energy, Today’s Business News