Iberdrola to acquire Klamath cogen plant 091407

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Iberdrola agrees to acquire Oregon cogeneration plant for 209 mln eur

ABC Money 9/13/07

MADRID (Thomson Financial) - Iberdrola SA said its US PPM Energy unit has agreed to acquire a 506 megawatt cogeneration plant in Klamath Falls, Oregon for about 209 mln eur.

In a statement, Iberdrola said the agreement takes into account the amortisation of the municipal bonds that the city issued to finance the construction of the plant, which has been operating since 2001.

The deal is expected to be closed this autumn subject to regulatory approval, it said.

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