Goldman unit sells power plant stakes

Cogentrix Energy, a unit of investment bank Goldman Sachs, has sold an 80% stake in 14 power plants to Energy Investors Funds (EIF), a buyout firm specialising in US energy and power assets.

Terms of the agreement were not disclosed, and reports say Goldman is aiming to structure the transaction as an all-cash sale to close by November 1, pending regulatory approvals.

EIF's United States Power Fund III LP is buying into 14 power projects totalling 2,336 net megawatts of generating capacity. Co

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