30 September 2002 – Aquila, Inc. announced today that it has completed the previously announced sale of its 16.58 per cent interest in the Lockport Energy facility to Fortistar LLC.
The Lockport facility is a 180 MW gas-fired power plant approximately 30 miles north of Buffalo, New York, in the town of Lockport. The facility has been in service since 1992 and is managed by Fortistar.
“We continue to move rapidly forward with our program to sell $1bn of non-strategic assets,” said Robert K. Green, Aquila’s president and chief executive officer. “To date we have announced sales totalling $786m and fully expect to close those transactions before the end of the year.”
Based in Kansas City, Missouri, Aquila operates electricity and natural gas distribution networks serving more than six million customers in seven states and in Canada, the United Kingdom, New Zealand and Australia. The company also owns and operates power generation and mid-stream natural gas assets. At June 30, 2002, Aquila had total assets of $11.9 billion. More information is available at www.aquila.com.