FirstEnergy Sells Energy Plant To AMP For $485M

Law360, New York (March 14, 2011, 9:58 PM EDT) -- FirstEnergy Corp. agreed on Monday to sell its yet-to-be completed Ohio natural gas plant to American Municipal Power Inc. for about $485 million.

The Sandusky, Ohio-based plant, known as the Fremont Energy Center, is a natural gas combined cycle generation plant. It has two natural gas turbines and a steam turbine capable of producing 544 megawatts of load-following capacity and 163 megawatts of peaking capacity, according to FirstEnergy.

The quoted $485 million sale price is based on the plant's 686 megawatts of output, but will be...
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