Combined Cycle, Gas

Entergy Buys Arkansas Natural Gas-Fired Power Plant for $948 Million

Entergy (NYSE: ETR) closed on the purchase of a 1,980-MW natural gas-fired combined-cycle power plant in Arkansas for $948 million, or $479/KW.

The Union Power Station began commercial service in 2003 and consists of four combined-cycle gas turbines rates at 495 MW each. Entergy Arkansas and Entergy New Orleans each acquired one unit, and Entergy Louisiana acquired two.

In December 2014, Entergy announced an agreement with Union Power Partners LP, an independent power producer wholly-owned by Entegra TC LLC, to acquire the units to help modernize the generating fleet and meet increasing power demands in the region.