Wednesday, January 8, 2025

FirstEnergy to Sell Natural Gas and Hydro Assets to LS Power Equity Partners for $925 Million

FirstEnergy Corp. (NYSE: FE) today announced it has entered into an agreement to sell four competitive natural gas generating plants in Pennsylvania and its competitive portion of a Virginia hydroelectric power station to a subsidiary of LS Power Equity Partners III, LP, of New York.  Under the terms of the agreement, the facilities would be purchased for approximately $925 million