Goldman Sachs buys 3,300MW of power generation capacity

Oil

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Investment bank Goldman Sachs is to buy Cogentrix Energy Inc, an independentpower producer based in Charlotte, North Carolina. The deal will provide Goldmanwith 3,300 megawatts (MW) of generating capacity from 26 plants power plantsacross the US, on top of its current capacity of 940MW. The bank will pay $115 million in cash and will assume $2.3 billion in non-recoursedebt to acquire Cogentrix, says Goldman spokesman Bruce Corwin. Most of the generator’soutput is sold under long-term contrac