The US utility FirstEnergy Corp. has inked a deal with a subsidiary of LS Power Equity Partners III to divest 1,615 MW of gas-fired and hydropower assets for an all-cash price of US$825m. The sale was originally announced in January 2017 but has been revised in the meantime, now encompassing six power stations.
The concerned power plants are located in Pennsylvania and Virginia and include namely the 638 MW Springdale gas-fired facility (Units 1-5, Springdale Township, Pennsylvania), the 88 MW Chambersburg gas-fired facility (Units 12-13, Guilford Township, Pennsylvania), the 88 MW Gans gas-fired facility (Units 8-9, Springhill Township, Pennsylvania), the 45 MW gas-fired Hunlock Creek in Luzerne County, Pennsylvania). Besides, the deal also entails a portion of Allegheny Generating Company's ownership stakes in the 713 MW Bath County pumped-storage hydro (Warm Springs, Virginia) and in the 43 MW Buchanan facility (Oakwood, Virginia).
Once the deal is completed, FirstEnergy will have an installed generating capacity of 15,380 MW (from nuclear, coal, hydro, wind and solar facilities) located across Ohio, Pennsylvania, West Virginia, New Jersey, Virginia and Illinois.
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