CALGARY, ALBERTA–(Marketwired – April 20, 2017) – News Release – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that it has completed the sale of its hydroelectric generation assets to Great River Hydro, LLC, an affiliate of ArcLight Capital Partners, LLC for US $1.065 billion.
The sale includes 13 hydroelectric facilities, stations and associated dams and reservoirs on the Connecticut and Deerfield Rivers. The assets are located in New Hampshire, Vermont and Massachusetts with a total generating capacity of 584 megawatts.
Proceeds from the sale of these facilities will be used to repay debt financing raised to fund the 2016 Columbia Pipeline Group acquisition, which created one of North America’s largest regulated natural gas transmission companies.