Portland General to Snap Up PacifiCorp Washington Assets for $1.9B
Portland General Electric agreed to acquire PacifiCorp’s Washington-state wind, natural-gas generation and distribution assets for $1.9 billion, with Manulife Investment Management backing the deal and taking a minority stake. PacifiCorp says the sale will bolster its finances and simplify operations amid diverging policies. The assets include three generation facilities, about 4,500 miles of transmission and distribution lines, and operations across roughly 2,700 square miles serving about 140,000 customers.