This sale culminates an agreement reached in 2004 by PPL and a coalition of environmental groups and governmental agencies.
In addition to its sale proceeds from the trust, PPL also has received $14m in contingent consideration from Black Bear Hydro Partners, an affiliate of ArcLight Capital Partners.
This additional compensation is related to the rights to increase output at certain other hydroelectric facilities in Maine that PPL sold to Black Bear in late 2009.
These contingent expansion rights, as well as associated obligations, were part of PPL’s original agreement with the coalition, and were transferred to Black Bear as part of the 2009 sale transaction.
PPL owns and controls about 19,000MW of generating capacity in the US, sells energy in key US markets, and delivers electricity and natural gas to about 5.2 million customers in the US and the UK.
