Talen Energy Announces Sale of its Holtwood and Wallenpaupack Hydroelectric Generating Facilities to Brookfield
10.08.15
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Simpson Thacher represented Talen Energy Corporation (NYSE: TLN) in the sale of its Holtwood and Wallenpaupack hydroelectric generating facilities to a subsidiary of Brookfield Renewable Energy Partners L.P. (NYSE: BEP) for approximately $860 million in cash. The transaction is expected to close in the first quarter of 2016, following the receipt of necessary regulatory approvals and other customary closing conditions.
Talen Energy Corporation is one of the largest competitive energy and power generation companies in the United States, with a diverse generating fleet that operates in well-developed, structured wholesale power markets.
The Simpson Thacher team included Brian Chisling, Samuel Warfield, David Daniels and Elina Alperovich (M&A); Gregory Grogan, Jeannine McSweeney and Eric Wolf (Executive Compensation and Employee Benefits); Andrew Purcell and Jacqueline Clinton (Tax); and Krista McManus (Real Estate).