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AVANGRID, parent company of Central Maine Power Co., sold its natural gas-storage unit.
The Hartford Business Journal, a sister publication of Mainebiz, reported that Avangrid Renewables Holdings sold Texas-based Enstor Gas LLC, which owns and operates natural gas storage facilities in the Gulf Coast and Southwest regions of the country, to an affiliate of Boston private equity firm ArcLight Capital Partners LLC.
Terms of the deal were not disclosed.
Under the deal, officials said Enstor will maintain its name and operate as an ArcLight portfolio company.
Avangrid CEO James P. Torgerson said the sale follows a strategic review in which the company will focus on its core utility and renewables businesses.
In March, the company announced that Avangrid Renewables completed the sale of its Enstor Energy Services business to Castleton Commodities International LLC.
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Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
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