PPL Announces Merger

PPL Corporation, which owns the Susquehanna Steam nuclear power plant in Salem Township, is merging its electric generation business with that of another company to form a new stand-alone, independent power producer.

PPL Corporation and energy investment firm Riverstone Holdings LLC are combining and spinning off their power generation operations to form the separate company, Talen Energy Corporation, which will be publicly traded. PPL Corporation won’t have any ownership interest in the new company, but its shareholders will own 65 percent of it and Riverstone’s will own 35 percent, according to a press release issued Tuesday.

Read more: http://citizensvoice.com/news/ppl-announces-merger-1.1700744

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