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
Proctor and Gamble (PG) has sold two of its soap brands to European consumer products giant Unilever (UN). Cincinnati-based P&G says the sale includes the global Camay brand, the Zest brand outside of North America and its Talisman manufacturing plant in Mexico. The plant employs approximately... Dish Network is no longer carrying Fox News in yet another dispute for the television provider. Fox News, which changed the face of cable news with its ardent advocacy of conservative issues, went dark Sunday, replaced on Dish by The Blaze, Glen Beck's new right-leaning channel. Fox Business channel... Swiss drug maker Roche Holding said a late-stage trial of its breast cancer drug Kadcyla did not provide superior results compared with an existing therapy.
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.