Duke Energy to Sell Stake in Okla. Power Plant - TheStreet

Duke Energy

(DUK) - Get Report

sold a 23% interest in a power plant under construction in McClain County, Okla., to the

Oklahoma Municipal Power Authority

.

Financial terms weren't disclosed. Construction of the 500-megawatt merchant power plant near Newcastle, Okla., began in March. The facility is set to begin commercial operation in the summer of 2001. Duke Energy, based in Charlotte, N.C., expects to close the deal by the end of the first quarter of 2001.

Shares of Duke Energy recently fell $2.69, or 3.2%, to $82.63 in

New York Stock Exchange

trading.