Emera Inc., the owner of Nova Scotia Power and other energy assets, said yesterday it had reached a deal to buy a New Brunswick power plant from private company Irving Oil. Halifax-based Emera did not disclose the terms of the transaction that will see it acquire Bayside Power LP in St. John, N.B. Bayside is a 260-megawatt gas-fired plant supplying energy to New Brunswick and parts of the northeastern United States. The purchase gives Emera its second significant asset in New Brunswick. It also owns the 145-kilometre Brunswick gas pipeline. EMA (TSX) rose 38 cents to $21.86.
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