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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.