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Portland General Electric (PGE) has partnered with Manulife Investment Management to acquire select generation and utility operations in Washington from PacifiCorp for $1.9 billion. The deal includes three generation facilities and extensive transmission and distribution lines, serving approximately 140,000 customers.

This acquisition allows PGE to expand its operations beyond Oregon and aims to improve financial stability for PacifiCorp amid regulatory pressures. The transaction is expected to finalize within a year.