Talen Energy Corp. established as PPL Corp. energy generation spinoff
PPL Corp.’s competitive power generation spinoff Talen Energy Corp. was established Monday, comprising assets that generated $4.3 billion in revenue in 2014.
Allentown-based PPL and its partner in the new company, Riverstone Holdings LLC, received final regulatory approval in April to form Talen.
The spinoff doesn’t affect rates paid by customers of PPL Electric Utilities, which remains owned by PPL.
Talen’s generation mix is 43 percent natural gas or oil, 40 percent coal, 15 percent nuclear and 2 percent hydroelectric.