EX-99.1
2
form8k-exhibit99_1.htm
EXHIBIT 99.1
form8k-exhibit99_1.htm
Exhibit
99.1
Contact:
For
news media - George Biechler, 610-774-5997
For
financial analysts - Joseph P. Bergstein, 610-774-5609
PPL
Corporation
Two
N. Ninth St.
Allentown,
PA 18101
PPL completes sale of Long
Island generation business to J-POWER USA
ALLENTOWN,
Pa. (Feb. 26, 2010) -- PPL Corporation (NYSE: PPL) announced on Friday (2/26)
that its generation subsidiary has completed the previously announced sale of
its Long Island generation business to an affiliate of J-POWER USA Development
Co., Ltd. for approximately $125 million, plus working capital.
The
business consists of two generation facilities - a 79.9-megawatt natural
gas-fired electric generation facility and a 79.9-megawatt oil-fired electric
generation facility - and related tolling agreements. The output of both
facilities is fully contracted to the Long Island Power Authority.
"These
have been good assets for us but are not core to our concentrated generation
positions in the Mid-Atlantic region and in the Northwest", said William H.
Spence, PPL's executive vice president and chief operating officer.
The sale
is factored into PPL's current 2010 earnings and cash flow
forecasts.
RBS
Securities, Inc. acted as exclusive financial advisor to PPL in connection with
the sale.
PPL
Corporation, headquartered in Allentown, Pa., controls or owns nearly 12,000
megawatts of generating capacity in the United States, sells energy in key U.S.
markets and delivers electricity to about 4 million customers in Pennsylvania
and the United Kingdom. More information is available at
www.pplweb.com
.
J-POWER
USA Development Co., Ltd. is a wholly owned subsidiary of J-POWER North America
Holdings Co., Ltd. which is a wholly owned subsidiary of Electric Power
Development Co., Ltd. ("J-POWER") with headquarters located in Tokyo,
Japan.
# # #
Note to Editors: Visit our media Web site at
www.pplnewsroom.com for additional news and background about PPL
Corporation.

EX - 99 . 1 2 form8k - exhibit99 _ 1 . htm EXHIBIT 99 . 1 form8k - exhibit99 _ 1 . htm Exhibit 99 . 1 Contact : For news media - George Biechler , 610 - 774 - 5997 For financial analysts - Joseph P . Bergstein , 610 - 774 - 5609 PPL Corporation Two N . Ninth St . Allentown , PA 18101 PPL completes sale of Long Island generation business to J - POWER USA ALLENTOWN , Pa . ( Feb. 26 , 2010 ) -- PPL Corporation ( NYSE : PPL ) announced on Friday ( 2 / 26 ) that its generation subsidiary has completed the previously announced sale of its Long Island generation business to an affiliate of J - POWER USA Development Co . , Ltd . for approximately $ 125 million , plus working capital . The business consists of two generation facilities - a 79.9 - megawatt natural gas - fired electric generation facility and a 79.9 - megawatt oil - fired electric generation facility - and related tolling agreements . The output of both facilities is fully contracted to the Long Island Power Authority . " These have been good assets for us but are not core to our concentrated generation positions in the Mid - Atlantic region and in the Northwest " , said William H . Spence , PPL 's executive vice president and chief operating officer . The sale is factored into PPL 's current 2010 earnings and cash flow forecasts . RBS Securities , Inc . acted as exclusive financial advisor to PPL in connection with the sale . PPL Corporation , headquartered in Allentown , Pa . , controls or owns nearly 12,000 megawatts of generating capacity in the United States , sells energy in key U . S . markets and delivers electricity to about 4 million customers in Pennsylvania and the United Kingdom . More information is available at www.pplweb.com . J - POWER USA Development Co . , Ltd . is a wholly owned subsidiary of J - POWER North America Holdings Co . , Ltd . which is a wholly owned subsidiary of Electric Power Development Co . , Ltd . ( " J - POWER " ) with headquarters located in Tokyo , Japan . # # # Note to Editors : Visit our media Web site at www.pplnewsroom.com for additional news and background about PPL Corporation .