Carlyle Group to Acquire New Jersey Based Power Generation Facility (CG)

On Monday, asset management firm Carlyle Group LP (CG) announced that it has agreed to acquire a New Jersey based power plant from Energy Capital Partners.

Carlyle Group will acquire the Red Oak power generation plant, which is located in Sayreville, NJ. The Red Oak facility is a highly efficient 823-MW natural gas-fired combined-cycle power plant and operates under a long term power purchase agreement.

Separately, the firm has agreed to purchase five power plants in California. These five facilities account for 320 MW. The deal was made in conjunction with CG’s power affiliate Cogentrix.

Carlyle shares were mostly flat during pre-market trading Monday. The stock has been mostly flat YTD.