PPL Montana Completes Sale of Hydroelectric Facilities to NorthWestern Corporation
11.20.14
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The Firm represented PPL Montana, LLC, a subsidiary of PPL Corporation, in the sale of its hydroelectric facilities to NorthWestern Corporation for approximately $890 million. The sale includes 11 hydroelectric power plants with a total generating capacity of more than 630 megawatts, as well as the Hebgen Lake reservoir.
PPL Corporation, with 2013 revenue of more than $12 billion, is one of the largest companies in the U.S. utility sector. The PPL family of companies delivers electricity and natural gas to about 10 million customers in the United States and the United Kingdom, owns more than 18,000 megawatts of generating capacity in the United States and sells energy in key U.S. markets.
The Simpson Thacher team included David Lieberman, Brian Chisling and Phong Quan (M&A); Andrew Purcell (Tax); Gregory Grogan, Jamin Koslowe and Scott Mathias (Executive Compensation); Michael Isby (Environmental); and Mardi Merjian (Real Estate).