Exelon selling Massachusetts power plant for $530M
Exelon Corp., the parent company of PECO, which serves a portion of York County, and of Three Mile Island in Dauphin County, has agreed to sell its Fore River Generating Station in Massachusetts for $530 million.
Texas-based Calpine Corp. today announced that it is purchasing the 809-megawatt, combined-cycle power plant and related plant inventory. The facility is 12 miles southeast of Boston.
The Fore River power plant was built in 2003. It can run on natural gas or fuel oil, depending on market conditions.
Calpine said it expects to close on the deal in the fourth quarter. The company is the nation’s largest generator of electricity from natural gas and geothermal resources, with 87 power plants in operation or under construction. It serves customers in 17 states and Canada.
Chicago-based Exelon, which also owns energy supplier Constellation, trades its shares on the New York Stock Exchange under the ticker EXC. Exelon is in the process of merging with Pepco Holdings Inc., which would create the leading Mid-Atlantic electric and gas utility.