PPL Buys Natural Gas Power Plant

The McMahon natural gas processing plant in Ta...

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PPL Corp. is buying a natural gas-fired power plant in Lebanon, the company announced on Monday

AES Corp. of Arlington, Va., is selling its Ironwood plant for $304 million, PPL said.

The plant, which began operation in 2001, has a 705-megawatt capacity, or roughly enough to power 564,000 homes.

For the past four years, PPL EnergyPlus, the marketing and trading subsidiary of Allentown-based PPL, has supplied natural gas for the operation of the Ironwood plant in return for rights to its full output.

Read more: http://www.mcall.com/business/mc–ppl-power-plant-20120228,0,7169860.story