MinnTex Power Holdings and MinnTex GP are managed by Wayzata Investment Partners.
Guadalupe is one of two 1,000MW gas-fired power plants that PSEG Power had agreed to sell earlier in the year.
The sale of the Odessa facility, in West Texas, to High Plains Diversified Energy Corporation (HPDEC) is expected to close in the first half of 2011.
The two transactions have a combined equity value of $687m.
