ALLENTOWN, Pa., Nov. 30, 2016 /PRNewswire/ -- On Wednesday, November 30, the U.S. Nuclear Regulatory Commission approved the request from Talen Energy Corporation's subsidiary, Susquehanna Nuclear, LLC, for an indirect transfer of control of the operating licenses for both units at the Susquehanna nuclear power plant.
The decision is the final regulatory approval necessary to enable affiliates of Riverstone Holdings, LLC to acquire Talen Energy Corporation pursuant to the merger agreement announced on June 3, 2016. The transaction is expected to close within the next 10 business days, subject to satisfaction of customary closing conditions.
About Susquehanna Nuclear, LLC
The Susquehanna plant, located about seven miles north of Berwick, is jointly owned by Susquehanna Nuclear, LLC, and Allegheny Electric Cooperative Inc., and is operated by Susquehanna Nuclear. For information, visit www.susquehannanuclear.com.
About Talen Energy
Talen Energy is one of the largest competitive energy and power generation companies in North America. The company owns or controls 15,000 megawatts of generating capacity in well-developed, structured wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. For more information, visit www.talenenergy.com.
About Riverstone Holdings LLC
Riverstone is an energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr.with approximately $34 billion of equity capital raised. Riverstone conducts buyout and growth capital investments in the exploration & production, midstream, oilfield services, power and renewable sectors of the energy industry. With offices in New York, London, Houston and Mexico City, the firm has committed approximately $30 billion to more than 120 investments in North America, Latin America, Europe, Africa and Asia. Visit www.riverstonellc.com for more information.