Bidders submitted second-round offers of more than $1.1 billion for Coleto Creek Power Station in Goliad County, Texas, being shopped by Sempra Generation and Carlyle/Riverstone Holdings. A banker following the sale says auctioneer Goldman Sachs, which took the bids last week, gave suitors guidance that included a $17.50 per kw/h floor for pricing the asset. Tim Kingston, managing director at Goldman in New York, declined to comment.

Goldman is believed to be narrowing the offers down and may conduct a quasi-third round in which it goes back to the short-listed parties, bankers say. Auction watchers say Complete Energy, International Power, and GE Energy Financial Services are being mentioned as potential shortlist candidates.

Officials at the sellers and potential acquirers either declined to comment or did not return calls for comment.

Coleto, a coal-fired facility in ERCOT, generates 632 MW. The Carlyle Riverstone and Sempra venture own the plant via holding entity Topaz Power Group. They decided to sell late last year (PFR, 12/19).