American Electric Power (AEP) has agreed to sell its 25.2% share of the 2,500 MW South Texas Project nuclear plant to Cameco Corp. AEP subsidiary Texas Central Co. has agreed to sell its remaining generating assets, including eight natural gas plants, one coal-fired plant and one hydro plant with a total combined capacity of 3,800 MW, to a joint venture of Sempra Energy Partners and Carlyle/Riverstone Global Energy and Power Fund. AEP will also sell interests in four independent power plants totaling more than 560 MW of capacity to subsidiaries of Bear Stearns.
Calpine has agreed to purchase the 570 MW Fort Bend County Plant from a consortium of banks that had provided construction financing and had taken possession of the plant from the original developer in 2003.
Dominion Resources will buy the 138 MW Clarkesville (Virginia) coal-fired plant from United American Energy Holdings.
Oregon Electric Utility Co. — a consortium backed by Texas Pacific Group and other investment firms — is seeking Oregon PUC approval to acquire Portland General Electric. Bankrupt Enron has agreed to sell PGE, a public electric utility that serves nearly half of Oregon’s population, to the consortium.
Headwaters Incorporated has agreed to purchase VFL Technology Corp., complementing the coal combustion product management operations of Headwaters subsidiary ISG Resources.
Southern California Edison has received regulatory permission to proceed with plans to acquire the partially completed Mountainview power plant project in Redlands, Calif.
Private equity owners of Conforma Clad have agreed to sell all outstanding shares of the company to Kennametal. Conforma Clad provides severe wear solutions for applications involving extreme abrasion, corrosion and erosion.
MDU Resources Group has acquired a 49.9% ownership interest in Carib Power Management LLC, which indirectly owns a 225 MW natural gas-fired power plant in the Republic of Trinidad and Tobago.