The Tennessee Valley Authority (TVA, NYSE: TVC) completed its purchase of the 968 MW Magnolia Combined Cycle Gas Plant in Mississippi for $436 million, or $450/kW.

The Federal Energy Regulatory Commission (FERC) approved the sale August 17 between TVA and Kelson Limited Partnership. The plant is connected to a 500 kV transmission line and has provided power to TVA occasionally since 2003.

The purchase is part of TVA¹s plan to obtain more generating sources to meet expected demand without increasing emissions.

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