Retail electric services provider Northeast Utilities ( NU) said Monday that it agreed to sell its Connecticut and Massachusetts competitive generation assets to Energy Capital Partners, a private equity firm engaged in investing in energy businesses and infrastructure assets, for $1.02 billion, plus the assumption of $320 million in debt. The sale includes 15 generating plants at 14 sites with a total output of 1,442 megawatts, the largest of which is the 1,080-megawatt Northfield Mountain pumped-storage facility located in Northfield, Mass. Also included is Mount Tom Station, a 146-megawatt coal-fired plant in Holyoke, Mass. The Berlin, Conn.-based company said it will use the proceeds from the sale to invest in its regulated businesses, retire debt and pay taxes. The sale, which is subject to certain regulatory approvals, is expected to close by the end of 2006. J.P. Morgan Securities acted as financial adviser to the company on the transaction. "Going forward, our focus centers on our regulated utility operations, through which we're building infrastructure projects critical to improving New England's energy service reliability," the company said.