The Federal Energy Regulatory Commission on Jan. 15 approved a November 2015 application from Talen Ironwood LLC, Talen Energy Marketing LLC, TransCanada Facility USA Inc. and TransCanada Power Marketing Ltd. for approval of a Transcanada buy of a 660-MW, gas-fired power plant in Pennsylvania.
TransCanada will indirectly acquire all of the membership interests of Talen Ironwood from Talen Generation LLC and Talen Energy Marketing will transfer a rate schedule (Reactive Power Rate Schedule) from Talen Ironwood’s generating facility to TransCanada Marketing.
Talen Ironwood owns and operates the Ironwood Facility, an approximately 660-MW facility and associated interconnecting transmission facilities near Lebanon, Pennsylvania. The Ironwood Facility is interconnected with the transmission grid controlled by PJM Interconnection and is located within the 5004/5005 sub-market of PJM.
TransCanada Corp. (TSX: TRP) (NYSE: TRP) announced in October 2015 that it had reached an agreement to acquire the Ironwood natural gas-fired, combined cycle plant, with a nameplate capacity of 778 MW, from Talen Energy (NYSE: TLN) for US$654 million.