PPL Generation has agreed to buy AES Ironwood and AES Prescott, which together own and operate the 705-MW AES Ironwood combined-cycle natural gas-fired power plant in Lebanon, Pa.
Total consideration for the transaction is about $304 million, consisting of a cash purchase price of $87 million, which includes $4.8 million in expected working capital, and about $217 million of net project indebtedness of AES Ironwood.
The plant began operation in 2001.
