Talen Energy to sell three power plants for $1.51 bln

Thu Oct 8, 2015 6:58am EDT
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Oct 8 (Reuters) - Power producer Talen Energy Corp said it would sell three power plants in Pennsylvania for $1.51 billion to comply with a regulatory order mandating divestiture of certain assets.

Talen will sell a natural gas-fired plant to a unit of TransCanada Corp for $654 million and two hydroelectric projects to a unit of Brookfield Renewable Energy Partners LP for $860 million, the company said on Thursday.

Talen is required to sell assets in certain regions of the PJM Interconnection, the power grid agency for the U.S. mid-Atlantic and parts of the Midwest, under an order from the Federal Energy Regulatory Commission that approved the formation of the company. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Anil D'Silva)