Exelon Sells 5 Calif. Power Plants To Japanese Co. IHI

Law360, New York (August 21, 2012, 5:01 PM EDT) -- Exelon Corp. on Tuesday said it would sell its stakes in five California power plants obtained through its recent merger with Constellation Energy Group Inc. to Tokyo-based industrial equipment company IHI Corp.

In the deal, IHI will pick up Chicago-based Exelon's 50 percent stakes in two coal plants in Bakersfield and two biomass plants in Fresno and Lincoln, as well as a 45 percent stake in a biomass plant in Jamestown, according to a statement from the company.

Exelon's shares in the five plants have a...
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