The plant began operations in 2000 and provides electricity to Carolina Power & Light Co., a subsidiary of Duke Energy, according to a news release from Calpine.
The sale was approved by the Federal Energy Regulatory Commission on Dec. 18.
Calpine has a fleet of 93 power plants in operation or under construction, representing approximately 28,000 megawatts of generation capacity and serving customers in 20 states and Canada.
Energy Capital is a private equity firm based in New Jersey. According to its website, the firm has raised approximately $7 billion to invest primarily in electric transmission, gas storage and pipelines and other energy assets.