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THE WOODLANDS, Texas, Jan. 13, 2020 /PRNewswire/ — Talen Energy Corporation (“Talen Energy” or “the Company”) announced today the completion of the previously-announced sale of its indirect, wholly owned subsidiary Interstate Energy Company LLC (“IEC”) to Adelphia Gateway, LLC (“Adelphia”), a subsidiary of New Jersey Resources Corporation. Upon closing of the transaction, Talen Energy received proceeds in the amount of $155 million, which was in addition to $10 million received upon announcement of the transaction in October 2017. The closing proceeds are expected to be used for recourse debt reduction…read more
