Emera Inc. (TSX: EMA) is buying three gas-fired electricity generating facilities for $541 million.
Emera is acquiring Bridgeport Energy, based in Bridgeport, Conn., Tiverton Power, located in Tiverton, R.I., and Rumford Power, headquartered in Rumford, Maine. The facilities are being sold by Edmonton, Alberta-based power producer Capital Power Corp. (TSX: CPX).
Capital Power is focusing on Alberta, and will close its energy businesses outside of Alberta before the end of the year, according to a company statement.
The buyer has been looking to add gas-generation plants to its portfolio of wind and hydro assets, Chris Huskilson, CEO, says in a statement.
Hallifax, Nova Scotia-based Emera is an energy and services company that invests in electricity generation, transmission and distribution, as well as gas transmission and utility services.