Feb 17 (Reuters) - Portland General Electric ( POR )

said on Tuesday it has partnered with Manulife Investment

Management ​to acquire select Washington state generation ‌and

electric utility operations from PacifiCorp for $1.9

billion, expanding beyond its ⁠Oregon home market.

With electricity demand surging among ⁠industrial customers and

data centers, utilities are ‌looking for ‌additional generation

and transmission assets to support load growth.

The deal ​includes three generation facilities: ‌the 477-megawatt

Chehalis natural gas plant, the 94-MW Goodnoe Hills wind

facility, and the ​234-MW Marengo I and ​II ‌wind facilities, along

with about 4,500 miles of transmission and distribution lines

spanning 2,700 square miles.

Manulife ⁠Infrastructure Fund III and affiliates, including

John Hancock ⁠Life Insurance Company (USA), will take a minority

stake in the Washington utility business, providing long-term

capital support for the expansion, Portland General said ⁠in ‌a

statement.

The company said it will operate ‌the Washington assets

through a newly formed subsidiary ⁠that will be regulated by the

Washington Utilities and Transportation Commission.

It expects state and federal regulatory reviews to conclude

roughly 12 months after filings are submitted.

The Portland, Oregon-based company posted an adjusted

profit of 47 ​cents for the quarter ended December 31, missing

analysts' estimates of 63 cents, according to data ​compiled by

LSEG.