The transaction is subject to customary regulatory approvals.
These 1,147MW power plants are combined-cycle gas turbine generation facilities with summer period tolling agreements.
Highstar founder and managing partner Christopher Lee said that the facilities are favorably positioned, both in terms of the power end-markets and the off-takers they serve, as well as by their close proximity and direct transmission connections to large, liquid electricity trading hubs in Arizona, Nevada and southern California.
According to Highstar, this is the company’s third major power generation investment.
The company earlier acquired a 50% interest in InterGen, a power generation business with operations in the UK, the Netherlands, Mexico and Australia, and a 50% interest in US based Northern Star Generation.
