- FirstEnergy (NYSE:FE -1.2%) agrees to sell four natural gas generating plants in Pennsylvania and its portion of a Virginia hydroelectric power station to a unit of LS Power Equity Partners for $925M.
- FE says the sale is consistent with its strategy of operating as a fully regulated utility company and moving away from competitive generation markets.
- Upon completion of the sale, FE will own or control 15,380 MW total generating capacity from nuclear, coal, hydro, wind and solar facilities across Ohio, Pennsylvania, West Virginia, New Jersey, Virginia and Illinois.