For some time now environmentalists in Texas (both of them) have been adamantly opposed to Gov. Perry's plan to allow TXU Energy build almost a dozen new coal plants using old technology that was going to double the amount of pollution pumped into Texas skies.
Well that's old news now since TXU is about to be purchased by two private equity groups who have brought the environmentalists, Environmental Defense, into the discussion and agreed to only build three of the plants.
Do the equity firms see the environmental angle as beneficial to the long term value of the company? Here's the scoop from ED's president. I'm unaware of any other deal struck between such an interest group and private equity firms (which I find a bit spooky, though I can't quite pin down why).
