Carlyle Group to Acquire New Jersey Based Power Generation Facility (CG)

Carlyle Group to Acquire New Jersey Based Power Generation Facility (CG)

RSS

On Monday, asset management firm Carlyle Group LP (CG) announced that it has agreed to acquire a New Jersey based power plant from Energy Capital Partners.

Carlyle Group will acquire the Red Oak power generation plant, which is located in Sayreville, NJ. The Red Oak facility is a highly efficient 823-MW natural gas-fired combined-cycle power plant and operates under a long term power purchase agreement.

Separately, the firm has agreed to purchase five power plants in California. These five facilities account for 320 MW. The deal was made in conjunction with CG’s power affiliate Cogentrix.

Carlyle shares were mostly flat during pre-market trading Monday. The stock has been mostly flat YTD.

The Bottom Line

Shares of Carlyle Group LP (CG) have a 5.11% yield based on Friday’s closing price of $25.05.

Carlyle Group LP (CG) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Free Updates

Join over 100,000 investors who get the latest news from Dividend.com.

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today