Constellation Energy finalizes Texas generation purchase

May 18, 2010|By Liz F. Kay, The Baltimore Sun

Constellation Energy Group has completed the $365 million purchase of two natural gas generation facilities in Texas, the company announced Tuesday.

The Colorado Bend Energy Center, a 550-megawatt facility near Wharton, Texas, and the Quail Run Energy Center, a 550-megawatt facility near Odessa, gives Constellation a physical presence in Texas, where the Baltimore-based corporation sells power in wholesale and retail markets.

Company executives had announced in February plans to use $1 billion in cash balances to purchase additional generation facilities in areas where it sells more load than it produces. The acquisition brings Constellation's total generating capacity to nearly 8,200 megawatts, according to the company.

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