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Local News

March 12, 2013

Former owner of Salem plant selling other Massachusetts site

SALEM — The Virginia energy company that sold Salem Harbor Station last year is selling its other Massachusetts coal- and oil-fired power plant.

Dominion announced yesterday that it signed a purchase-and-sale agreement for Brayton Point in Somerset and two plants in Illinois with a subsidiary of Energy Capital Partners, a private equity firm based in New Jersey and California.

In 2004, Dominion acquired 1,528-megawatt Brayton Point along with 745-megawatt Salem Harbor Station and a natural gas plant in Rhode Island as part of a $656 million federal bankruptcy court deal with USGen New England Inc.

Over the years, Dominion invested more than $1 billion in Brayton Point, the majority on cooling towers to lessen the impact of hot water discharged into Mount Hope Bay.

Dominion announced last fall that it was getting out of the coal-fired generation business.

The sale still needs approval from the Federal Energy Regulatory Commission.

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