Units of Entergy closed purchases on a pair of natural gas-fired generation assets that will generate power for the company's local utilities in Alabama and Mississippi.
Entergy Arkansas completed the purchase of the Hot Spring Energy Facility. The Arkansas power plant will boost the utility's generation capacity sits less than a mile from where Arkansas Power and Light founder Harvey Couch ran the first transmission line between Malvern and Arkadelphia in 1913.
The 620 MW, combined-cycle natural gas turbine unit was purchased from KGen Hot Spring LLC for about $253 million.
Entergy Arkansas announced plans to acquire the plant in 2011 and assumed ownership November 30.
Also, Entergy Mississippi has completed the purchase of the Hinds Energy Facility, a modern, 450 MW natural gas-fired power plant located in Jackson.
Entergy Mississippi bought the plant from KGen Hinds LLC for about $206 million, a sizeable discount to the cost to construct a comparable facility. Plans to acquire the Hinds plant were first announced in 2011.
Entergy Corp.'s utilities own and operate power plants with about 30,000 MW of electric generating capacity, including more than 10,000 MW of nuclear power. The Entergy utilities deliver electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy Corp. has annual revenues of more than $11 billion and about 15,000 employees.