Exelon sells renewables stake for $400 million

摘要

Exelon Generation has agreed to sell a minority stake in an affiliate thatrnowns 1,296 MW of wind and solar generation to John Hancock LifernInsurance for $400 million. Exelon said it will use the proceeds fromrnthe sale to pay down debt and for “general corporate purposes.”rnCompletion of the deal is expected in the late second quarter orrnearly third quarter, the company said in a form 8-K filing with thernSecurities and Exchange Commission. It is subject to regulatoryrnapprovals from the Federal Energy Regulatory Commission and PublicrnUtility Commission of Texas.