2012 Sale
The plant was originally constructed by a predecessor company of Constellation Energy, which was later purchased by Exelon in 2012. On August 9, 2012, Exelon announced that it had reached an agreement, subject to regulatory approvals, for the sale of the Charles P. Crane, Brandon Shores, and Herbert A. Wagner Generating Stations to Raven Power Holdings LLC, a newly formed portfolio company of Riverstone Holdings LLC. Exelon had committed to divest the plants as condition for regulatory approval of its merger with Constellation Energy to alleviate concerns regarding potential market power in the regional wholesale electricity market. The sale was completed on November 30, 2012.
Read more about this topic: Charles P. Crane Generating Station
Famous quotes containing the word sale:
“[T]he dignity of parliament it seems can brook no opposition to it’s power. Strange that a set of men who have made sale of their virtue to the minister should yet talk of retaining dignity!”
—Thomas Jefferson (1743–1826)