Parent of Retail Supplier Completes Sale of Texas Generation

Direct Energy has completed the previously announced sale of three gas-fired power generation facilities in Texas to Blackstone for $685 million.

As part of the transaction, an affiliate of Direct Energy has entered into a three year call option arrangement for an equivalent amount of capacity with Blackstone.

The power plants sold by Direct Energy are listed below:

                      Year      ERCOT   Installed 
                    Purchased   Region   Capacity
Bastrop               2004      South      540
Frontera (Mission)    2004      South      495
Paris                 2006      North      260