(MENAFN) US top independent power generator Calpine Corp power generator agreed to takeover an 800-megawatt power plant from Bosque Power Co LLC in a USD432 million deal, Reuters reported.
The 280-acre plant, located in Central Texas in Bosque County, comprises two generating blocks powered by natural gas.
The deal aims to ramp up power generation capacity in Texas, which faces the risk of running out of power reserves, the minimum generation capacity needed to cushion against extreme weather or unplanned outages.
In April, Calpine said it will add more than 500 megawatts in Texas by the summer of 2014 to help avoid rolling outages.
The Houston-based company expects to close the deal in early November and plans to fund it with cash on hand.
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