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24 February 2006 - US independent power producer Reliant Energy yesterday completed the previously announced sale of its three New York City power plants for approximately $975m to Astoria Generating Company Acquisitions.

Astoria is an entity formed by an investor group led by Madison Dearborn Partners and New York City-based US Power Generating Company.

The generating assets involved in the sale include the Astoria, Gowanus and Narrows plants, which have a combined summer capacity rating of approximately 2100 MW. Net unrestricted proceeds from the sale will be used to reduce debt.

Reliant Energy, Inc. based in Houston, Texas, provides electricity and energy services to retail and wholesale customers in the United States.

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