3 November 2009-- PPL Maine, a unit of PPL Corp, completed the sale of its hydroelectric generation business to Black Bear Hydro Partners LLC, a unit of ArcLight, for $81 million.
The sale includes five hydroelectric generating facilities that produce 23 MW of electricity total fully owned by PPL and a 50 percent ownership in a separate 13 MW hydroelectric project, of which another ArcLight unit already owns the other half.
The $81 million excludes certain considerations contingent upon the completion of PPL's potential sale of three other hydroelectric facilities to the Penobscot River Restoration Trust.
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PPL to sell Maine hydroelectric assets to ArcLight