New England gas plants sold to private equity firm
Carlyle Group, a big Washington-based private equity firm, is buying three natural gas power plants in New England from Emera Inc. for $590 million.
The plants, in Bridgeport, Conn., Tiverton, R.I., and Rumford, Maine, have a combined generation capacity of 1,100 megawatts, the companies said in a statement Monday.
Emera, based in Halifax, Nova Scotia, said the sale is part of its plan to reduce debt and finance its regulated utility businesses. — Larry Edelman