ContourGlobal said it was buying the assets, which include a power plant in Trinidad and Tobago with a combined capacity of 1,502 MW, from Western Generation Partners on a debt and cash free-basis. (https://refini.tv/3qLasx4)

The addition of the power stations, including the largest independent power asset in Trinidad and Tobago, offers development and expansion potential including battery storage and hybrid technology, ContourGlobal said.

Coal had been the primary fuel for U.S. power plants for much of the last century, but its use has been declining since peaking in 2007. Gas overtook coal as the leading fuel for U.S. power plants in 2016, according to federal data, and has held that title ever since.

The deal is expected to add $92 million to ContourGlobal's adjusted core profit in the first year after completion of the transaction, which is expected to close in the first quarter of 2021.

(Reporting by Tanishaa Nadkar and Yadarisa Shabong in Bengaluru; Editing by Shounak Dasgupta and Anil D'Silva)