PacifiCorp, a utility owned by Berkshire Hathaway, has entered into an agreement with Portland General Electric Company to sell its wind, natural gas generation and distribution assets and infrastructure in the state of Washington for $1.9 billion.
The agreement covers PacifiCorp’s assets including the Chehalis thermal plant, the Marengo wind facility, the Goodnoe Hills wind facility, and the distribution infrastructure required to serve customers in the current Pacific Power service area in Yakima, Walla Walla and surrounding communities.
The transaction is expected to take up to a year to finalize, and both companies anticipate a seamless transition for Washington employees.
“This is a targeted step toward ensuring the continued delivery of safe, reliable power to our nearly two million customers in the West and Intermountain West,” said Darin Carroll, PacifiCorp’s CEO. “This will improve the company’s financial stability while simplifying our operations to support our long-term commitment to customers in each of our remaining states.”
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