Integrys Energy Group Inc. (TEG) that WPS Power Development LLC, a wholly owned subsidiary of its nonregulated subsidiary, Integrys Energy Services Inc., signed an agreement with Algonquin Power & Utilities Corp. to sell two of its power generation companies that own generation assets in northern Maine and New Brunswick, Canada.
The sales represent approximately 75 megawatts of WPS Power Development's 329.2-MW fleet.
In addition, Integrys Energy Services is selling its associated sales and standard offer service contracts in northern Maine. Integrys Energy Services' standard offer service and retail electric sales contracts in southern Maine are not included in this sale.
Financial terms of the transactions are not being disclosed, but the value to be realized is in line with Integrys Energy Group's recovered capital expectations. Collateral support requirements for these businesses are minimal.
The transactions, which require certain customary contractual consents, are expected to close during the fourth quarter of 2009 or early 2010.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.