NSTAR (NST)said it is selling its wholly-owned subsidiary, Medical Area Total Energy Plant to a joint venture comprised of Veolia Energy North America and Morgan Stanley Infrastructure Partners for approximately $320 million in cash.
Medical Area Total Energy Plant provides heating, chilled water service and electricity to several hospitals, medical research and biotechnology centers and teaching institutions in the Longwood Medical Area of Boston.
The sale is expected to close in the first quarter or early part of the second quarter of 2010.
Proceeds from the transaction are anticipated to be used to reduce NSTAR's capitalization.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.