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Stock Market & Financial Investment News

News Breaks
May 15, 2014
18:07 EDTEXC, BEPBrookfield Renewable acquires remaining stake in 417 MW Hydroelectric facility
Brookfield Renewable Energy Partners (BEP) announced that, with its institutional partners, it has entered into an agreement with a wholly-owned subsidiary of Exelon (EXC), to acquire the remaining 67% interest it did not already own in the 417 MW Safe Harbor hydroelectric facility on the Susquehanna River in Pennsylvania. Safe Harbor generates an average of 1,100 GWh annually and possesses storage capabilities that support daily operations and dispatch during peaking hours. It is one of the largest conventional hydroelectric facilities in Pennsylvania-New Jersey-Maryland Interconnection, a market which offers multiple revenue streams including energy, capacity, ancillaries and renewable energy credits. The total purchase price for the transaction is approximately $613M subject to customary working capital adjustments, and will be funded through available liquidity and capital from Brookfield Renewable and its institutional partners. It is expected that a portion of the purchase price will be funded with non-recourse, fixed-rate financing. The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to be completed in the third quarter.
News For BEP;EXC From The Last 14 Days
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July 29, 2015
08:10 EDTEXCExelon to extend termination date of merger pact with Pepco to October 29
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08:06 EDTEXCExelon narrows FY15 EPS view to $2.35-$2.55, consensus $2.45
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08:06 EDTEXCExelon reports Q2 adjusted EPS 59c, consensus 54c
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July 23, 2015
14:33 EDTEXCPepco continues to expect to complete merger with Exelon in Q3
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14:32 EDTEXCPepco says request filed for stay of MPSC order related to merger
In a regulatory filing, Pepco Holdings (POM) disclosed that on July 21, the Maryland Office of People’s Counsel filed a Motion in the Circuit Court for Queen Anne’s County, Maryland, requesting a stay of the MPSC Order and to conduct additional discovery and present additional evidence in light of an alleged conflict of interest on the part of a former MPSC Commissioner. "Pepco Holdings believes the motion is without merit and intends to vigorously oppose it and any other attempts to impede the effectiveness of the MPSC Order or delay the closing of the merger," the company said. As previously disclosed, on April 29, 2014, Pepco Holdings entered into an agreement and plan of merger with Exelon (EXC).

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