PSEG Completes Sale of Its 50% Interest in Kalaeloa Partners, L.P. Cogeneration Facility in Hawaii
(NEWARK, N.J. – Aug. 9, 2023) – PSEG today announced that it has completed the sale of its 50% interest in Kalaeloa Partners, L.P. cogeneration facility in Oahu, HI to Harbert Management Corporation’s Harbert Infrastructure Fund VI, LP. The sale was completed as of July 31, 2023.
The sale of the Kalaeloa cogeneration facility completes the divestiture of PSEG’s fossil generating fleet. PSEG Power’s 3,760 megawatt generating portfolio is comprised of five carbon-free, base load nuclear units: the 100% PSEG-owned Hope Creek station and the 57% PSEG-owned Salem units 1 and 2 located in New Jersey and operated by PSEG Nuclear as well as the 50% PSEG-owned Peach Bottom units 2 and 3 in Pennsylvania operated by Constellation Energy Generation, LLC.
About PSEG
Public Service Enterprise Group (PSEG) (NYSE: PEG) is a predominantly regulated infrastructure company focused on a clean energy future. Guided by its Powering Progress vision, PSEG aims to power a future where people use less energy, and it's cleaner, safer and delivered more reliably than ever. PSEG's commitment to ESG and sustainability is demonstrated in our net-zero 2030 climate vision and participation in the U.N. Race to Zero, as well as our inclusion on the Dow Jones Sustainability North America Index and the list of America's most JUST Companies. PSEG's businesses include Public Service Electric and Gas Co. (PSE&G), PSEG Power and PSEG Long Island (https://corporate.pseg.com).
The sale of the Kalaeloa cogeneration facility completes the divestiture of PSEG’s fossil generating fleet. PSEG Power’s 3,760 megawatt generating portfolio is comprised of five carbon-free, base load nuclear units: the 100% PSEG-owned Hope Creek station and the 57% PSEG-owned Salem units 1 and 2 located in New Jersey and operated by PSEG Nuclear as well as the 50% PSEG-owned Peach Bottom units 2 and 3 in Pennsylvania operated by Constellation Energy Generation, LLC.
About PSEG
Public Service Enterprise Group (PSEG) (NYSE: PEG) is a predominantly regulated infrastructure company focused on a clean energy future. Guided by its Powering Progress vision, PSEG aims to power a future where people use less energy, and it's cleaner, safer and delivered more reliably than ever. PSEG's commitment to ESG and sustainability is demonstrated in our net-zero 2030 climate vision and participation in the U.N. Race to Zero, as well as our inclusion on the Dow Jones Sustainability North America Index and the list of America's most JUST Companies. PSEG's businesses include Public Service Electric and Gas Co. (PSE&G), PSEG Power and PSEG Long Island (https://corporate.pseg.com).
