Talen Energy (TLN) sells two hydroelectric plants for $860M

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Talen Energy (TLN) sells two hydroelectric plants for $860M

Talen Energy Corporation sold two hydroelectric power plants to a subsidiary of Brookfield Renewable Energy Partners L.P. The total value of the transaction reached US$860 million.

The hydroelectric power plants called The Holtwood and Lake Wallenpaupack, both located in Pennsylvania, generate together a total capacity of 292 MW.

This sale follows the asset divestiture directives in accordance to the mitigation measures stated by a Dec 2014 Federal Energy Regulatory Commission (FERC) order that approved the creation of Talen Energy.

On Febrary 1 2016, the company sold its Talen Ironwood Holdings, LLC, with an operational capacity of 704 MW to a subsidiary of TransCanada Corporation and the value of the transaction was U$657 million.

On February 16, 2016, Talen Energy announced the completion of the sale of C.P. Crane LLC a 399 MW capacity coal-fired power plant to an affiliate of Avenue Capital Group.

Having completed all regulatory requirements Talen Energy is currently in a position to focus on its existing assets and deliver energy to all its costumers from regional transmissions organizations to small businesses an residential costumers.

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