Exelon (NYSE: EXC) announced that it has completed the sale of its three Maryland coal-fired power plants to Raven Power Holdings, a new portfolio company of Riverstone Holdings. The sale fulfills Exelon’s commitment to divest the plants as part of its merger with Constellation. Under the agreement announced Aug. 9, 2012, Raven Power will maintain jobs with comparable pay and benefits for employees at the plants.
The three plants, known collectively as Maryland Clean Coal, include:
• Brandon Shores, Pasadena, Md.: 1,273 MW of installed capacity, two units (coal)
• C.P. Crane, Middle River, Md.: 399 MW installed capacity, three units (coal and oil)
• H.A. Wagner, Pasadena, Md.: 976 MW installed capacity, five units (coal, natural gas and oil)
The sale was required by the Federal Energy Regulatory Commission, U.S. Department of Justice and the Maryland Public Service Commission as part of Exelon’s merger agreement.