ALLENTOWN, Pa., Sept. 29,
2022 /PRNewswire/ -- PPL Corporation has reached an
agreement to sell PPL Safari Holdings LLC, parent company of Safari
Energy LLC – a subsidiary that acquires solar projects and develops
and manages solar facilities for commercial and industrial
customers and public sector organizations.
A subsidiary of Aspen Power Partners LLC has agreed to acquire
PPL Safari pending review by the U.S. Department of Justice.
PPL's decision to sell Safari reflects the company's recent
strategic repositioning as it sharpens its focus on its core
business – high-performing regulated utilities in the U.S. – and on
advancing the clean energy transition through forward-looking grid
investments and the continued transition of the company's
Kentucky generation fleet.
PPL and Aspen expect to close
on the transaction in the fourth quarter of 2022. The sale is not
considered material to PPL Corporation.
About PPL Corporation
PPL
Corporation (NYSE:PPL), based in
Allentown, Pennsylvania, is a
leading U.S. energy company focused on providing electricity and
natural gas safely, reliably and affordably to 3.5 million
customers in the U.S. PPL's
high-performing, award-winning utilities are addressing
energy challenges head-on by building smarter, more resilient and
more dynamic power grids and advancing sustainable energy
solutions. For more information, visit
www.pplweb.com.
Note to Editors: Visit our media website at
www.pplnewsroom.com for additional news about PPL
Corporation.
Contacts:
|
For news media: Ryan
Hill, 610-774-4033
|
|
For financial analysts:
Andy Ludwig, 610-774-3389
|
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SOURCE PPL Corporation