TransCanada PipeLines Ltd., through its wholly-owned subsidiary,TransCanada OSP Holdings Ltd., reported last week it purchased anadditional 29.9% interest in an Ocean State Power (OSP) plant fromNational Grid USA for an estimated $61 million, making it the soleowner of the OSP facility. The transaction is expected to close bySeptember, pending regulatory approvals.

The 560 MW, combined-cycle plant, which is located in Burrville,RI, is considered one of the largest gas-fired facilities in theNortheast region. It is fueled by 100 MMcf/d of gas from westernCanada.

“This acquisition completes our strategy to control 100% of theOSP plant and better positions TransCanada to compete in therapidly growing U.S. Northeast power market,” said TransCanadaPresident Doug Baldwin.

In addition to full ownership in the OSP plant, TransCanadaannounced last week that it plans to build two new gas-firedco-generation plants in Alberta. TransCanada also manages, operatesand is the largest partner in TransCanada Power L.P., a publiclyheld limited partnership that owns a total of six power plants inOntario, British Columbia and New York State, with a seventh plantnearing completion.

Susan Parker

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