WPS Energy Services, a unit of energy and utility company
, said Tuesday that it agreed to sell the Sunbury generation facility in Pennsylvania to Corona Power.
The 421.7-megawatt plant will be sold for $30.4 million, subject to certain working capital and other post-closing adjustments. The company estimates that it will record a pretax gain of $20 million from the sale.
WPS also expects the sale to generate about $12 million in tax benefits that will be realized during the next one to four years. The transaction should close in the third quarter.
Shares of WPS slipped 11 cents, or 0.2%, to $49.48.
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