Dive Brief:
- Koch Energy Services announced it will purchase a 1,055-megawatt natural gas-fired power plant in West Texas.
- The Koch Industries subsidiary will buy the Odessa Power plant from Energy Capital Partners.
- Energy Capital Partners bought the plant for $335 million from PSEG Power in 2011.
Dive Insight:
Regulators are currently weighing changes to the Texas power market. Reuters notes that "recent sales of power plants in Texas have been completed at prices much below the cost of new construction." So the purchase may have come at good price point for the ever-controversial Koch brothers.
