Combined Cycle

AltaGas acquires 507 MW natural gas-fired power plant

AltaGas Ltd. (TSX: ALA) said that its subsidiary, AltaGas Power Holdings (U.S.) Inc. acquired Blythe Energy LLC for $515 million. Blythe Energy owns the 507 MW Blythe Energy Center, a natural gas-fired combined-cycle power plant, along with associated major spare parts and a related 230 kV 67-mile electric transmission line in California.

Southern California Edison has a 20-year power purchase agreement through July 2020 with the plant, but contract provisions match PPA revenues to all major plant costs.

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