ALLENTOWN, Pa., April 1, 2016 /PRNewswire/ -- Talen Energy
Corporation (NYSE: TLN) completed the sale of the Holtwood and Lake
Wallenpaupack hydroelectric plants on Friday (4/1) to a
subsidiary of Brookfield Renewable Energy Partners L.P. The total
purchase price was $860 million,
subject to customary post-closing adjustments.
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.
The two Pennsylvania
hydroelectric plants – Holtwood in
Lancaster County and Lake Wallenpaupack in the Pocono Mountain
region – have a combined generating capacity of 292 megawatts.
RBC Capital Markets served as financial advisor to Talen Energy.
Simpson, Thacher & Bartlett
LLP was transaction counsel.
Talen Energy is one of the largest competitive energy and power
generation companies in North
America. Our diverse generating fleet operates in
well-developed, structured wholesale power markets. To learn more
about us, visit www.talenenergy.com.
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Contacts:
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Media Relations –
George C. Lewis, 610-774-4687
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Investor Relations –
Andy Ludwig, 610-774-3389
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SOURCE Talen Energy Corporation
