PacifiCorp, a subsidiary of Berkshire Hathaway Energy, agreed to sell its Washington state assets to Portland General Electric for $1.9 billion.
The transaction includes three wind and natural gas generation facilities.
Portland General Electric will also acquire distribution infrastructure serving approximately 140,000 customers.
PacifiCorp is divesting these assets to bolster its financial position against billions of dollars in wildfire claims from 2020 and 2022.
The utility previously warned that ongoing litigation in Oregon and California could trigger a liquidity crunch.
The deal is expected to close within one year.