Oglethorpe Power has acquired two natural gas-fired, combined cycle generating units, KGen Murray I and II, a wholly owned subsidiary of KGen Power. The value of the transaction is estimated to be about $529 million.

The deal also includes an existing power purchase and sale agreement with Georgia Power for the entire output of Murray I until May 31, 2012. With the acquisition, Oglethorpe Power has canceled the construction of a planned 605-megawatt, combined cycle generating plant.

Click here for the release from Oglethorpe Power.