Friday, 08 September 2017

FirstEnergy discounts four Pa. power plants to fast-track sale

FirstEnergy headquarters in downtown Akron, Ohio. FirstEnergy headquarters in downtown Akron, Ohio.

Ohio-based First Energy Corp. has reduced the sales price for five gas-fired power plants and a hydro electric facility in Pennsylvania and Virginia in an effort to close on a drawn-out deal with Power Equity Partners, a New-York based infrastructure fund. The assets, with a combined capacity of 1,615MW, will now be sold for $835 in cash.

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