Oglethorpe Power has completed the acquisition of two natural gas-fired combined-cycle units with a total generating capacity of about 1,220MW in the US state of Georgia.
The company purchased these power units in Murray County with the acquisition of KGen Murray I and II, a wholly owned subsidiary of US based KGen Power Corp.
The purchase price was approximately $529m, including working capital and other closing adjustments.
With the acquisition of the new units, Oglethorpe brings its total owned generating capacity to approximately 7,048MW.
The acquisition also includes an existing power purchase and sale agreement with Georgia Power for the entire output of Murray I through 31 May 2012.
In purchasing the Murray units, Oglethorpe said it has canceled construction of a planned 605MW combined-cycle power plant that was in the siting stage.
Oglethorpe is a power supply cooperative serving 39 electric membership corporations which collectively provide electricity to 4.1 million Georgians.