Duke Unit Sells Indiana Gas Plant For $82M

Law360, New York (January 17, 2012, 8:45 PM EST) -- The Ohio subsidiary of Duke Energy Corp. said Tuesday that it has sold its majority stake in an Indiana gas-fired power plant to a joint venture between Duke’s Indiana affiliate and a regional utility for $81.6 million.

Duke Energy Indiana Inc., a regulated utility, owns 62.5 percent of the plant. The Wabash Valley Power Association Inc. increased its ownership from 25 percent to 37.5 percent, the company said in a filing with the U.S. Securities & Exchange Commission.

Duke spokesman Lew Middleton said Duke Indiana was...
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