FirstEnergy Generation Sells Michigan Power Plant
April 1, 2010 (FinancialWire) — FirstEnergy Corp. (NYSE: FE) said that its FirstEnergy Generation Corp. subsidiary has closed the sale of its 340-megawatt Sumpter Plant in Sumpter, Michigan, to Wolverine Power Supply Cooperative, Inc., for an undisclosed amount.
The plant, built in 2002 by FirstEnergy Generation Corp., consists of four 85-MW natural gas combustion turbines.
The sale was reported on December 17, 2009. FirstEnergy said that the Sumpter Plant was FirstEnergy Generation Corp.'s only facility in Michigan and was no longer a good strategic fit for the company.
Michigan-based Wolverine Power Cooperative is a generation and transmission cooperative that provides wholesale electricity to six members in that state.
Ohio-based FirstEnergy is a diversified energy company whose subsidiaries and affiliates are involved in the generation, transmission and distribution of electricity, as well as energy management and other energy-related services.
The firm’s seven electric utility operating companies serve 4.5 million customers within a 36,100-square-mile area of Ohio, Pennsylvania and New Jersey. Its generation subsidiaries control more than 14,000 megawatts of capacity.
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