Goldman Sachs buys more US power plants

NEGT's transaction with Goldman subsidiary GS Power Holdings II is expected to close in the first quarter of 2005, subject to regulatory and third-party approvals. The plants are located throughout the US and have a combined generating capacity of more than 2,500 megawatts (MW). NEGT's ownership interests in the facilities ranges from 13% to 100%. The agreement followed a bidding process, in which NEGT sought offers higher or otherwise better than the $558 million negotiated with Denali Powe