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

Editors Pick
Social networking giant Facebook, Inc. said Wednesday after the markets closed that its second quarter profit fell 9% from last year, as higher costs and expenses more than offset a 39% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Western Digital Corp. (WDC) on Wednesday reported a drop in profit for the fourth quarter as revenues continued to decline due to a weak PC market. Nevertheless, shares of the hard disk drive maker rose 5 percent after its fourth-quarter profit topped analysts' estimates. Irvine, California-based... Microsoft is reportedly working on streaming PC games to Xbox One consoles as the software giant strives to generate demand for both.
comments powered by Disqus
RELATED NEWS
Trade PPL now with 
Follow RTT