Entergy Announces Close of Sale of Rhode Island Natural Gas-Fired Power Plant to Carlyle Power Partners

Dec 17, 2015, 18:14 ET from Entergy Corporation

NEW ORLEANS, Dec. 17, 2015 /PRNewswire/ -- Entergy Corp. (NYSE: ETR) announced today that its wholesale generation division, Entergy Wholesale Commodities, has closed on the sale of its 583-megawatt Rhode Island State Energy Center (RISEC), in Johnston, R.I., to Carlyle Power Partners.

Entergy announced Oct. 8 that it had entered into an agreement to sell the natural gas-fired, combined-cycle plant to Carlyle. The base sales price, excluding adjustments, is approximately $490 million. Entergy Wholesale Commodities purchased RISEC for $346 million in December 2011.

"RISEC has been a good investment for us, and its sale is consistent with our strategy for Entergy Wholesale Commodities – to be disciplined about reducing risk and freeing up financial resources for other opportunities," said Entergy Chairman and CEO Leo Denault.

Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 10,000 megawatts of nuclear power, making it one of the nation's leading nuclear generators. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $12 billion and approximately 13,000 employees.

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SOURCE Entergy Corporation



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