Entergy Grows Power Generation Fleet In Lousiana
Entergy Corporation (NYSE: ETR ) announced its subsidiary Entergy Louisiana, LLC has completed the purchase of a 580 MW combined-cycle gas-turbine (CCGT) power plant.
Entergy paid approximated US$300 million to aquire Acadia Energy Center Power Block 2. Located in Eunice, La., the eight year old Acadia Energy Center employs pollution controls and CCGT technology that the company says aligns with its strategy to develop a diverse and modern fleet of energy resources.
Entergy Louisiana plans to improve the transmission system connecting Power Block 2 to the electrical grid and to build a deidicated natural gas pipe line independent of Power Block 1 which is owned Cleco Power LLC.
This announcement comes on the same day that Entergy Corp. released its first quarter earnings for 2011. The company posted first quarter earnings of US$253.7 million up US$5 million from the first quarter 2010.
“We view this as a sound investment to help meet the future power demand of our customers,” said Bill Mohl, president and chief executive officer of Entergy Louisiana, LLC.
He added, “It also furthers Entergy’s position as one of the cleanest electric utilities in the country.”
Image Credit: infomatique via Flickr
Joseph Baker is a freelance writer living in Vancouver BC. His areas of focus include renewable energy, sustainability and climate change.
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