Constellation Closes $1.1B Mass. Power Plant Deal

BALTIMORE (AP) -- Constellation Energy says it has completed a $1.1 billion acquisition of five power plants in the Boston area. 

Constellation announced the acquisition Monday of the Boston Generating fleet, which it said would begin adding to its earnings this year. Constellation says the acquisition is being financed with available cash and debt and was approved by the Federal Energy Regulatory Commission late last month. 

Boston Generating is undergoing bankruptcy reorganization after taking on debt before the economic downturn. 

The Boston area power plants -- four natural gas fired plants and a fuel oil plant -- add 2,950 megawatts to Baltimore-based Constellation Energy's 9,000 megawatt fleet. 

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