AES Ohio Generation LLC has completed the sale of six generation facilities with a total nameplate capacity of 1,052 MW to Kimura Power LLC for $241 million in cash, according to a March 28 regulatory filing.
The transaction, which received the the Federal Energy Regulatory Commission approval in February, involved the sale of the 665-MW Tait diesel and combustion turbine generation facility in Dayton, Ohio; the 236-MW Montpelier Generating Station in Poneto, Ind.; the 102-MW Yankee Street gas plant and solar array in Centerville, Ohio; the 25-MW O.H. Hutchings CT in Hutchings, Ohio; the 12-MW Monument diesel generation facility in Dayton, Ohio; and the 12-MW Sidney diesel generation facility in Sidney, Ohio.
All the plants are in the PJM Interconnection service area.
AES Ohio parent DPL Inc. intends to use the sale proceeds to fully repay outstanding term loans and additional debt and fund infrastructure investments.
Kimura Power is an indirect subsidiary of private equity fund Rockland Power Partners III LP. Rockland Capital LLC manages the general partner of Rockland Power Partners III. DPL is a subsidiary of AES Corp. (FERC docket EC18-41)