Talen Energy announces agreement to sell Renewable Energy Business
Talen Energy has achieved an agreement to sell Talen Renewable Energy, LLC to funds managed by California-based Energy Power Partners.
The sale will include 25 projects in four states with a total of 65 MW of nameplate generating capacity. The portfolio includes landfill gas-to-energy, solar, wind and cogeneration projects.
Subject to regulatory approvals, the agreement is expected to close by the end of the year.
Talen Energy is a new electric generation company formed from the generation assets of PPL and Riverstone Holdings. It is a competitive energy and power generation company in the United States, with a diverse generating fleet that operates in well-developed, structured wholesale power markets.
Energy Power Partners is a fund manager that makes project equity investments in the renewable and clean energy sector. The team targets small to mid-sized operating assets and construction-ready projects located in North America with contracted cash flows.
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