Portland General Electric Acquires 3 Electric Plants in Washington for $1.9B

Portland General Electric announced Feb. 17 that it is acquiring three generation centers in Washington state — including one natural gas generation plant and two wind-driven facilities — from PacifiCorp for $1.9 billion.

Portland GE is acquiring the plants in partnership with Manulife Infrastructure Fund II and John Hancock Life Insurance. Portland GE will operate the facilities through a separate company regulated by the Washington Utilities and Transportation Commission.