Houston-based Hanwha Energy USA said last week it reached agreement to acquire a natural gas-fired power generation facility in west Texas. Closing is expected in April for the assets that include a 324-megawatt simple-cycle facility in west zone of ERCOT. Hanwha Energy is an established gas-fired power generation developer in Korea and across Asia.
Joo Yoon, CEO, said, “This asset represents a high-quality, flexible generation resource designed to rapidly adjust output in response to demand in one of the fastest-growing power markets in the United States. Our experience developing and operating gas-fired generation allows us to support reliability and meet increasing demand in ERCOT.”
The Ector facility is in Permian Basin, EON said March 18, “where abundant natural gas supply and growing industrial activity are driving increased electricity demand.”