ALLENTOWN, Pa., Sept. 29, 2022 /PRNewswire/ -- PPL Corporation has reached an agreement to sell PPL Safari Holdings LLC, parent company of Safari Energy LLC – a subsidiary that acquires solar projects and develops and manages solar facilities for commercial and industrial customers and public sector organizations.
A subsidiary of Aspen Power Partners LLC has agreed to acquire PPL Safari pending review by the U.S. Department of Justice.
PPL's decision to sell Safari reflects the company's recent strategic repositioning as it sharpens its focus on its core business – high-performing regulated utilities in the U.S. – and on advancing the clean energy transition through forward-looking grid investments and the continued transition of the company's Kentucky generation fleet.
PPL and Aspen expect to close on the transaction in the fourth quarter of 2022. The sale is not considered material to PPL Corporation.