logo
Share SHARE
FONT-SIZE Plus   Neg

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

PPL Corp. (PPL) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Changyou.com Ltd. (CYOU) Monday reported first quarter net income attributable to Changyou.com of $30 million, down from $32 million in the prior year. Adjusted net income was $35 million. The online games developer noted that its first quarter was impacted by currency fluctuations. On average, five... Dutch consumer electronics giant Philips Electronics NV reported Monday significantly higher earnings in its first quarter as sales were boosted by higher volume. Looking ahead, the company said its outlook for 2017 remains unchanged as it expects further operational improvements and comparable sales growth in the year to be back-end loaded. A search has been launched for a dog that was placed aboard a wrong WestJet flight and ended up in Hamilton. The labradoodle named Cooper was mistakenly put on a flight to Hamilton and got off its leash in the Ontario city after it was taken out of its kennel by airline staff for a walk.
comments powered by Disqus
Follow RTT