According to a corporate release, Peabody Energy completed the sale of its 5.06% participation interest in the Prairie State Energy Campus to the Wabash Valley Power Association for $57 million, subject to certain customary post-closing adjustments.
Peabody Energy expects to use the transaction proceeds for general corporate purposes. This sale was announced in January 2016 and approved by the U.S. Bankruptcy Court on May 17, 2016 following a competitive bidding process as part of the Company’s emphasis on portfolio optimization and sale of non-core assets.
Prairie State is a 1,600 megawatt coal-fueled electricity generation plant and adjacent coal mine in Washington, St. Clair and Randolph counties in Illinois. The plant commenced operations in 2012 and is among the cleanest coal-fueled plants in the nation and the lowest fuel cost coal plant in the United States.
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