TransCanada Launches Binding Open Season for Cushing Marketlink

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TransCanada (TRP) to Acquire 778-MW, Pennsylvania-Located Combined Cycle Plant

October 8, 2015 6:48 AM EDT

TransCanada (NYSE: TRP) has reached an agreement to acquire the Ironwood natural gas fired, combined cycle power plant in Lebanon, Pennsylvania, with a nameplate capacity of 778 megawatts (MW), from Talen Energy Corporation (NYSE: TLN) for US$654 million. At closing, US$42 million in debt will be assumed and then repaid within 45 days of closing out of funds placed into escrow by the seller.

"This acquisition presents a unique... More