Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

PPL Closes Purchase Of Natural Gas-Fired Power Plant In Pennsylvania

PPL Corp. (PPL: Quote) announced that it has completed the acquisition of AES Ironwood, L.L.C. and AES Prescott, L.L.C. , which together own and operate the 705-megawatt AES Ironwood combined-cycle natural gas-fired power plant in Lebanon, Pa., from a subsidiary of The AES Corporation.

The plant is to be known as PPL Ironwood following the acquisition.

Total consideration for the transaction was approximately $302 million, consisting of a cash purchase price of $85 million, which includes $3 million in working capital, and $217 million of net project indebtedness of AES Ironwood, L.L.C.

The acquisition is not expected to have a material impact on PPL's earnings or financing plans, PPL Corp said.

Click here to receive FREE breaking news email alerts for PPL Corporation and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
After moving sharply higher at the open, stocks have seen further upside over the course of the trading day on Thursday. The strong upward move on the day has more than offset the pullback that was seen in the previous session. Suggesting moderate growth in the short-term, the Conference Board released a report on Thursday showing that its index of leading U.S. economic indicators rose by more than economists had anticipated in the month of September. Eurozone's consumer confidence improved unexpectedly in October after weakening in the previous four months, preliminary data from the European Commission showed Thursday. The flash consumer confidence indicator rose to -11.1 from a seven-month low of -11.4 in September. Economists had forecast a...
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.