FirstEnergy Corp (FE.N) completed the sale of Fremont Energy Center in Fremont, Ohio to American Municipal Power Inc for more than $500 million, the company said in a release Thursday.

The two companies had entered into a definitive purchase agreement for the facility in March. [ID:nWNAB8130]

Fremont Energy Center, completed earlier this month, is a natural gas combined cycle generation plant with two natural gas turbines and a steam turbine capable of producing 544 megawatts of load-following capacity and 163 MW of peaking capacity, FirstEnergy said.

FirstEnergy acquired the partially completed plant in January 2008 from Calpine Corp (CPN.N) in its bankruptcy proceeding.