FirstEnergy Sews Up $395M Sale Of 11 Hydroelectric Plants

Law360, New York (February 13, 2014, 1:14 PM EST) -- FirstEnergy Corp. said Wednesday that it's completed the $395 million sale of 11 hydroelectric power stations in Pennsylvania, West Virginia and Virginia to a private equity-backed unit of power generation and transmission company LS Power Group.

The plants, owned by four First Energy subsidiaries, have a total generation capacity of 527 megawatts. They're being sold to Harbor Hydro Holdings LLC, a unit of LS Power Equity Partners II LP. The sales agreement was first announced in September, but had to be approved by the Federal Energy...
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