TranCanada selling dams, wind and other units to fund Columbia Pipeline deal
TransCanada bought 13 hydroelectric dams on the Connecticut and Deerfield rivers in 2005
WEST LEBANON, N.H.—TransCanada is looking to sell its New England power generation business, including hydroelectric dams on the Connecticut River, as part of its effort to finance its $10 billion acquisition of Houston-based Columbia Pipeline Group.
TransCanada bought 13 hydroelectric dams on the Connecticut and Deerfield rivers from USGen New England in 2005.
The Valley News reports the dams in Wilder, Bellows Falls and Vernon, Vermont, are among the assets TransCanada plans to sell.
TransCanada also plans to sell its Kibby wind development in Maine; its generation plants in Rhode Island, Pennsylvania and New York and its power marketing business.
TransCanada, which had proposed the Keystone XL oil pipeline, has challenged the U.S. government’s rejection of the project.