Talen Energy Sells Pennsylvania Gas Plant for $657 Million

 Talen Energy Sells Pennsylvania Gas Plant for $657 Million

Talen Energy Corporation on Monday completed the sale of Talen Ironwood Holdings LLC to a subsidiary of TransCanada Corporation for a total purchase price of about $657 million.

Talen Ironwood Holdings LLC owns and operates the 704-MW Ironwood combined-cycle plant in Lebanon County, Pennsylvania.

Talen Energy also repaid about $41 million in debt and a customary pre-payment premium.  The company expects to use proceeds from the transaction to retire pre-payable and maturing debt.

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