PPL completes sale of generating assets, including hydro plant shares

PPL Corporation has completed the previously announced sale of its interests in certain non-core generating stations to an affiliate of LS Power Equity Advisors for approximately $381 million in cash, PPL reported.

The transaction includes the 244-MW PPL Wallingford Energy plant, a natural gas-fired facility located in the Town of Wallingford, Conn.; the 585-MW PPL University Park plant, a natural gas-fired facility located in University Park, Ill.; and PPL’s one-third share in Safe Harbor Water Power Corporation, owner of the 421-MW Safe Harbor Hydroelectric Station on the Susquehanna River in Conestoga, Pa.

The sale, for which PPL recorded an after-tax special item charge of $64 million in 2010, primarily in the third quarter, is factored into PPL’s current 2011 earnings and cash flow forecasts.

For more hydropower news and information, click here

Previous articleHabitat creation sought for six Missouri River projects
Next articleMexico’s La Parota hydropower project could still go ahead

No posts to display