Talen Energy Corp. (NYSE: TLN) said one of its subsidiaries sold C.P. Crane LLC, which owns and operates a coal-fired power plant in Maryland, to an affiliate of Avenue Capital Group.
The sale of the 399-MW C.P. Crane power plant near Baltimore is expected to be completed by the end of first quarter 2016 to satisfy an order from the Federal Energy Regulatory Commission approving the transactions that formed Talen Energy.
Goldman Sachs served as financial advisor to Talen Energy. Kirkland & Ellis was Talen Energy’s transaction counsel.