PPL Sells Off Non-Core Power Assets

13 March 2011 (Last Updated March 13th, 2011 18:30)

PPL Corporation has sold its interests in certain non-core power generating stations to LS Power Equity Advisors for $381m. The assets include two natural gas plants – a 244MW PPL Wallingford Energy plant in Connecticut, US, and a 585MW PPL University Park plant in Illionois, US.

PPL Corporation has sold its interests in certain non-core power generating stations to LS Power Equity Advisors for $381m.

The assets include two natural gas plants – a 244MW PPL Wallingford Energy plant in Connecticut, US, and a 585MW PPL University Park plant in Illionois, US.

The transaction also covered a PPL's one-third share in Safe Harbor Water Power Corporation that owns a 421MW Safe Harbor Hydroelectric Station on the Susquehanna River in Pennsylvania.

Credit Suisse and BofA Merrill Lynch acted as financial advisers to PPL for the transaction.