VIRGINIA power producer Dominion says it has signed a deal to sell three of its merchant generation power stations in Illinois and Massachusetts to private equity firm Energy Capital Partners.

After taxes, the company expects to net about $650 million in the transaction.

Included in the deal is the 1528 megawatt Brayton Point power station in Somerset, Massachusetts, which has three coal-fired units and one unit fired by oil or natural gas.

Dominion has owned the property since 2005.

It will also sell the Kincaid and Elwood power stations, which it acquired in 1998 and 1999, respectively.

The 1158MW facility in Kincaid, Illinois, has two 579MW coal-fired units.

Meanwhile, the 1424MW facility in Elwood outside of Chicago has nine natural gas-fired combustion turbines.

Dominion has owned a 50% interest, or 712MW, since Elwood became operational in 1999. It also operated the station.

The sale, which is expected to close during the second quarter, will hinge upon the approval of the Federal Energy Regulatory Commission and is also pending Hart-Scott-Rodino antitrust clearance.

Last September Dominion announced it was exiting the merchant coal-fired generation after a business rethink.

The company said it would invest proceeds in its regulated businesses and reduce debt needs.