Talen Energy agreed to sell three Pennsylvania power plants with a total combined generating capacity of 996 MW for $1.51 billion in gross cash proceeds, subject to customary purchase price adjustments. The 704-MW Ironwood plant is being sold to a subsidiary of TransCanada for a total purchase price of $654 million. The Holtwood and Lake Wallenpaupack hydroelectric projects, with a combined generating capacity of 292 MW, were sold to a subsidiary of Brookfield Renewable Energy Partners L.P. for $860 million. The transactions are expected to result in net proceeds of approximately $1.16 billion.
