Constellation Energy has completed a $1.1bn deal to acquire five power plants with a total generating capacity of 2,950MW in the Boston area of New England, US.

The company has purchased the power plants from Boston Generating, including four natural gas-fired plants with a total capacity of 2,941MW and a 9MW fuel oil plant.

The Federal Energy Regulatory Commission approved the transaction late last month.

Constellation Energy said that the acquisition is being financed through a mix of available cash on hand and debt.

Constellation Energy is a supplier of energy products and services and owns a diversified fleet of generating units located in the US and Canada.