PSEG Power Announces Delay in Sale of Odessa

PSEG Power LLC, a subsidiary of Public Service Enterprise Group Incorporated PEG announced that it has terminated the Purchase and Sale Agreement with High Plains Diversified Energy Corporation for its 1,000 MW gas-fired Odessa generation facility. The PSA was for a $335 million purchase price. PSEG Power continues to pursue the sale of Odessa with a goal of closing later this year. Odessa is one of two 1,000 MW gas-fired power plants that PSEG Power announced its determination to sell earlier in the year. The sale of the other facility, Guadalupe, was completed in the first quarter.