The sale consists of a partially completed 620-megawatt, combined-cycle generating facility, located in the Satsop Development Park in Grays Harbor County, Washington State, that is currently in a construction deferral. Including other considerations, including tax benefits, the sale is expected to be worth a total of $116 million.
Purchasing company Invenergy is a Chicago based energy investment company focused on building profits by developing and managing power-generation assets.
Grays Harbor is the third of three deferred construction projects sold by Duke Energy over the past 12 months. The other plants included the Moapa Energy Facility in Clark County, Nevada, sold in October 2004 and the Luna Energy Facility near Deming, New Mexico, sold in November 2004.
Duke Energy is an energy company with a portfolio of natural gas and electric businesses, both regulated and unregulated. Duke Energy supplies, delivers and processes energy for customers in several areas of the Americas.
