HomeFebruary 28, 2018
GenOn To Sell Pennsylvania Power Plant
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Platinum Equity announced that it has signed a definitive agreement to acquire GenOn’s Hunterstown power generation facility and related assets in a transaction valued at approximately $520 million.
GenOn is currently a unit of NRG Energy Inc.; GenOn, via a bankruptcy restructuring, is in the process of being separated from NRG into a stand-alone company.
Platinum Equity's acquisition of the plant is subject to regulatory approval and is expected to close in the second quarter of 2018.
Located in Gettysburg, Pennsylvania, the Hunterstown facility is a combined-cycle gas turbine generating power plant that provides 810 MW to the PJM (Met-Ed) 500kV grid
Platinum Equity said that it is actively looking for add-on opportunities for the Hunterstown asset as well as additional platform investments in the power generation market.
AOS Energy Partners will co-invest in the transaction. AOS is expected to remain active with the investment going forward, Platinum Equity said
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