Wachtell Guides NJ Utility In Fossil, Solar Power Sale

Law360 (July 31, 2020, 4:30 PM EDT) -- Wachtell Lipton Rosen & Katz LLP is advising Public Service Enterprise Group in the potential sale of its fossil fuel and solar power business, a move the New Jersey electric and gas company said Friday will advance its clean energy goals as the company evolves into a primarily regulated utility.

The Newark-headquartered company said it's "exploring strategic alternatives" for its non-nuclear generating fleet, which includes fossil fuel generating stations in New Jersey, Connecticut, New York and Maryland, along with solar power plants in various states. 

"A separation of the non-nuclear assets would reduce overall business risk and earnings volatility, improve our...

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