The deal will include 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 will be gas-fired plants in Connecticut and Illinois.
The transaction, for approximately $381M in cash, is expected to close in the fourth quarter of 2010, pending receipt of necessary regulatory approvals and third- party consents.
Credit Suisse and BofA Merrill Lynch served as PPL’s financial advisors in this transaction.
