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Tenaska, Warburg Pincus to sell US generating facilities12/05/2008. Source: AltAssets. 
 Tenaska Power Fund and Warburg Pincus have agreed to sell APT Generation, a portfolio of three electric generating plants in Pennsylvania, West Virginia and Ohio. In a separate transaction, TPF has also agreed to sell the Calumet Energy Power Station, a 303-megawatt power plant in Chicago.
The four plants are being purchased by a subsidiary of International Power for a purchase price of $856.4m.
TPF and Warburg Pincus have been joint owners of APT Generation since 2007, while TPF has owned Calumet since 2005.
The three APT plants are the 625-megawatt Armstrong Energy plant in Armstrong County, Pennsylvania, the 313-megawatt Pleasants Energy plant in Pleasants County, West Virginia and the 616-megawatt Troy Energy plant in Wood County, Ohio.
The Pleasants and Armstrong plants are positioned to deliver power to the PJM energy grid and the Troy plant serves the Midwest ISO energy grid.
TPF is a private equity limited partnership of institutional investors held outside the holding company structure of Omaha, Nebraska-based energy company Tenaska.
Warburg Pincus focuses on investments across various industry sectors in North America, Europe and Asia, including financial services, healthcare, industrial, technology, media and telecommunications, energy, consumer and retail and real estate.
Copyright © 2008 AltAssets
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