The Nuclear Regulatory Commission on Wednesday approved the indirect transfer of control of the operating licenses for both units of the Susquehanna nuclear power plant near Berwick, Pennsylvania to accommodate a merger deal between Riverstone Holdings LLC and Talen Energy Corporation.
Pursuant to a merger agreement announced on June 3, 2016, the agency said that approval was the last regulator hurdle necessary to allow Riverstone to complete the acquisition of Talen Energy.
The transaction is expected to close within the next 10 business days,, with the closing subject to customary closing conditions, Talen announced in a statement.
Riverstone is an energy and power-industry focused private investment firm that was established in 2000 by David Leuschen and Pierre Lapeyre Jr. Its current equity holdings are valued at $34 billion. Talen Energy is one of the largest energy and power generation companies in North America with control of 15,000 megawatts of generating capacity, principally focused in the Northeast, Mid-Atlantic and Southwest regions of the country.
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