Talen Energy to shed 65-MW renewables portfolio

US power producer Talen Energy Corp (NYSE:TLN) said on Friday it will sell its renewables arm, which has 65 MW of green projects across four states.

Talen has signed an agreement to sell the subsidiary, called Talen Renewable Energy LLC, to funds managed by California-based Energy Power Partners LLC. The transaction will cover 25 projects, including landfill gas-to-energy, solar photovoltaic (PV), wind and cogeneration assets, according to the press release.

The agreement is currently subject to regulatory approvals. The transaction, the value of which remained undisclosed, is expected to conclude by the end of the current year.

The buyer, Energy Power Partners, makes project equity and growth capital investments mainly in the North American renewable power sector. The fund manager targets small to mid-sized operating assets, as well as shovel-ready projects with contracted cash flows, it says on its website.

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