12 May 2008 — Tenaska Capital Management LLC said that a unit of the Tenaska Power Fund L.P. (TPF) and a partner of Warburg Pincus have agreed to sell three facilities with a generating capacity totaling 1,554 MW. In addition, Tenaska Capital said that TPF had agreed to sell the Calumet Energy Power Station, a 303 MW power plant in Chicago.
TPF and Warburg Pincus said they agreed to sell APT Generation, a portfolio of three electric generating plants in Pennsylvania, West Virginia and Ohio.
The four plants are being purchased by a unit of International Power PLC for $856.4 million.
TPF and Warburg Pincus have been joint owners of APT Generation since 2007. TPF has owned Calumet since 2005.
The acquisitions are expected to close by the end of the third quarter of 2008.
The three APT plants are the 625 MW Armstrong Energy plant in Pennsylvania, the 313 MW Pleasants Energy plant in West Virginia, and the 616 MW Troy Energy plant in Ohio.
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