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
H&R Block reported a smaller loss for the first quarter, driven by a four percent increase in revenues, partly offset by foreign currency fluctuations. The company announced a $3.5 billion stock buyback, and its shares gained 7% in after-hours trade... About nine-tenths of the world's sea birds are likely to have consumed pieces of plastic which continue to remain in their guts, a study shows. Automakers reported some mixed U.S. sales for August, marked by fewer working days and a delayed Labor Day, even as the month was largely bullish, spurred by lower interest rates, cheaper gas, and some strong employment data that buoyed consumer confidence.
comments powered by Disqus
RELATED NEWS
Trade PPL now with 
Follow RTT