PPL Corporation has completed the previously announced sale of its interests in certain non-core generating stations – including shares in a hydro asset – to an affiliate of LS Power Equity Advisors for $381M.
The transaction includes PPL’s one-third share in Safe Harbor Water Power Corporation, owner of the 421MW Safe Harbor hydroelectric station on the Susquehanna River in Conestoga, Pennsylvania.
Also included in the sale is the 244MW PPL Wallingford Energy plant, a natural gas-fired facility located in the Town of Wallingford, Conneticut.; the 585MW PPL University Park plant, a natural gas-fired facility located in University Park, Illinois.
Credit Suisse and BofA Merrill Lynch served as PPL’s financial advisers in this transaction.