BILLINGS, Mont. (AP) — PPL Corporation is spinning off assets including its Montana power plants as the Pennsylvania company seeks to focus on other markets.
The move announced Tuesday will put the company's coal-fired plants in Colstrip and Billings under control of a new corporation, Talen Energy Corporation.
The transaction is set to close in nine to 12 months. After that, Talen will own and operate more than 15,000 megawatts of power generating capacity in six states.
PPL Montana spokesman David Hoffman says the Colstrip plant will continue operating. The company's Corette plant in Billings already was due to be mothballed next April, due to the cost of complying with new pollution regulations.
PPL still plans to sell its 11 hydroelectric dams in Montana to NorthWestern Energy. Approval for that deal is pending.