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NRG REMA divests stake in 2 coal plants in Pennsylvania

NRG REMA LLC wrapped up the sale of tenant-in-common interests in two coal- and oil-fired power plants in Pennsylvania.

The NRG Energy Inc. unit sold its 16.45% tenant-in-common, or TIC, interest in the 1,711-MW Conemaugh power plant to Conemaugh Power Pass-Through Holders LLC and a 16.67% TIC interest in the 1,711-MW Keystone facility to Keystone Power Pass-Through Holders LLC.

NRG REMA sold the lease agreements to settle debt as part of its agreement with creditors for Chapter 11 reorganization of parent company GenOn Energy Inc. NRG REMA's pass-through certificate holders intend to reorganize the company's lease agreements that include $209.4 million worth of outstanding series C pass-through certificates due 2026.

The Federal Energy Regulatory Commission approved the transaction on Dec. 13, 2018. (FERC docket EC19-6)