Constellation completes deal to buy five Boston-area plants

Acquisition increases capacity by a third

Constellation Energy Group announced Monday that it completed a $1.1 billion deal to buy five power plants in the Boston area, increasing the company's energy-producing capacity by a third.

The purchase is one of the Baltimore company's largest acquisition in years. Under the agreement, Constellation acquired four natural gas plants and one fuel oil facility from Boston Generating, which had filed for bankruptcy protection. The fleet produces 2,950 megawatts of power.

Constellation currently serves 13.3 terawatt hours of customer load in the New England market, and prior to the deal, it did not have any power-generating facilities there. The deal fits into Constellation's strategy of buying plants in regions where it sells electricity to customers.

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