US IPP Talen Energy Corporation has completed the $860 million sale of two hydropower plants in Pennsylvania, US, to a subsidiary of Brookfield Renewable Energy Partners L.P.
US IPP Talen Energy Corporation has completed the $860 million sale of two hydropower plants in Pennsylvania, US, to a subsidiary of Brookfield Renewable Energy Partners L.P.
The plants – Holtwood in Lancaster County and Lake Wallenpaupack in the Pocono Mountain region – have a combined generating capacity of 292MW.
Closing of the sale completes asset divestitures within the PJM Interconnection energy market required by a December 2014 Federal Energy Regulatory Commission order approving the transactions that formed Talen Energy.
RBC Capital Markets served as financial advisor to Talen Energy. Simpson, Thacher & Bartlett LLP was transaction counsel.