Shell Generating and Bechtel Enterprises Energy today signed an agreement to sell InterGen and 10 of its power plants to a partnership between AIG Highstar Capital and Ontario Teachers’ Pension Plan for $1.75 billion.
Shell currently owns 68 percent of InterGen, with the rest held by Bechtel. Excluded from the sale are InterGen’s assets in the
The InterGen plants to be sold are located in the
The transaction is expected to close mid-2005 and is subject to certain conditions and regulatory approvals.