GPU Closes Sale of Generation Plants for $1.62 Billion.MORRISTOWN Morristown. 1 Town (1990 pop. 16,189), seat of Morris co., N N.J., on the Whippany River; settled c.1710, inc. 1865. Although chiefly residential, it has diverse manufactures, including electronic products, health and beauty aids, auto parts, and , NJ--(BUSINESS WIRE)--Nov. 24, 1999-- GPU GPU: see secret police. (Graphics Processing Unit) A specialized logic chip devoted to rendering 2D or 3D images. Display adapters contain one or more GPUs for fast graphics rendering. , Inc. (NYSE NYSE See: New York Stock Exchange : GPU) announced today that it completed the sale of its remaining fossil-fueled and hydroelectric generating assets to Sithe v. i. 1. To sigh. n. 1. A scythe. v. t. 1. To cut with a scythe; to scythe. Energies for $1.62 billion. The transaction involves 21 power plants with a generating capacity of 4,034 megawatts, 15 generation development properties, three support service organizations, and the Johnstown Johnstown. 1 City (1990 pop. 9,058), seat of Fulton co., E central N.Y.; founded 1772, inc. 1895. Its leather-glove industry dates back to 1800; other leather and knitted goods are also made. , PA office building. "The closing of this transaction, together with other pending agreements, will complete our planned exiting of the domestic merchant generation business and enable us to focus on our strategy of transmitting transmitting, v to send and receive information, signals, and so on; allows a therapist to perceive a client's physical, emotional, and spiritual states. and distributing electricity and providing utility services," said Fred (Friendly Rollabout Engineered for Doctors) A mobile medical conferencing unit. See videoconferencing. 1. FRED - Robert Carr. Language used by Framework, Ashton-Tate. 2. D. Hafer, chairman, president and chief executive officer of GPU. Hafer said GPU will use the proceeds from the sale to Sithe to fund future stranded strand 1 n. The land bordering a body of water; a beach. v. strand·ed, strand·ing, strands v.tr. 1. To drive or run ashore or aground. 2. costs, invest in the reliability of its utility electric network, reduce debt and repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. common stock. GPU is currently awaiting final regulatory reg·u·late tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates 1. To control or direct according to rule, principle, or law. 2. approval for the closing of its Three Mile Island Unit 1, nuclear generating plant in Pennsylvania Pennsylvania (pĕnsəlvā`nyə), one of the Middle Atlantic states of the United States. It is bordered by New Jersey, across the Delaware River (E), Delaware (SE), Maryland (S), West Virginia (SW), Ohio (W), and Lake Erie and New York and expects to complete the sale of Oyster Creek Oyster Creek may refer to:
GPU, Inc. (NYSE:GPU), headquartered in Morristown, NJ, is a registered utility holding company providing utility and utility related services to customers throughout the world. GPU's electric and gas utility companies--GPU Energy, Midlands Electricity The Midlands Electricity Board was formed in 1947, under the Electricity Act of that year. The counterpart of the East Midlands board, it served southern, and western parts of Warwickshire, as well as the counties of Worcestershire, Herefordshire, Shropshire, and Staffordshire, as , GPU PowerNet, GPU GasNet and Emdersa--serve nearly 6 million customers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , the UK, Australia Australia (ôstrāl`yə), smallest continent, between the Indian and Pacific oceans. With the island state of Tasmania to the south, the continent makes up the Commonwealth of Australia, a federal parliamentary state (2005 est. pop. and Argentina Argentina (ärjəntē`nə, Span. ärhāntē`nä), officially Argentine Republic, republic (2005 est. pop. 39,538,000), 1,072,157 sq mi (2,776,889 sq km), S South America. . The company's independent power project units own and operate 22 projects in 7 countries and the United States. GPU's 1998 revenues were $ 4.3 billion and its total assets were $16.3 billion. GPU's other subsidiaries include GPU Advanced Resources, Inc., GPU Generation, Inc., GPU Nuclear, Inc., GPU Service, Inc. and GPU Telcom Services, Inc. (http://www.gpu.com) Sithe Energies, founded in 1984, is 60 percent owned by Vivendi
VIVENDI® is a software package for care management and staff organisation published by the German software company CONNEXT and introduced in 1995. (F.VVN VVN Virtual Voice Network VVN Very Very Nice (gaming) VVN Vereniging voor de Verenigde Naties (Dutch) ), France's largest services company, 29 percent owned by Marubeni Marubeni Corporation (丸紅株式会社 Marubeni Kabushiki-gaisha Corporation, a major Japanese Japanese (jăp'ənēz`), language of uncertain origin that is spoken by more than 125 million people, most of whom live in Japan. There are also many speakers of Japanese in the Ryukyu Islands, Korea, Taiwan, parts of the United States, and trading company, and 11 percent owned by management. Sithe currently operates 29 power plants in the United States and Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of . The New-York based company also has an extensive global portfolio of projects under operation, construction or active development worth $6 billion. -0-
FACILITIES INCLUDED IN TRANSACTION
Pennsylvania Facilities
Stations City GPU Size GPU
Subsidiary (MW) Ownership
(%)
Conemaugh New Florence Met-Ed 1,712 16%
Keystone Shelocta JCP&L 1,710 17%
Portland & Portland, Bangor Met-Ed 570 100%
Bangor Ash Site
Seward New Florence Penelec 197 100%
Shawville Shawville Penelec 603 100%
Titus Birdsboro Met-Ed 274 100%
Warren Warren Penelec 139 100%
CTs
Blossburg CT Tioga Penelec 19 100%
Hamilton CT East Berlin Met-Ed 20 100%
Hunterstown CT Gettysburg Met-Ed 60 100%
Mountain CT Mount Holly Met-Ed 40 100%
Springs
Orrtanna CT Gettysburg Met-Ed 20 100%
Shawnee CT East Stroudsburg Met-Ed 20 100%
Tolna CT Stewartstown Met-Ed 40 100%
Wayne CT Meadville Penelec 56 100%
Hydro
Piney Clarion Penelec 27 100%
Development
Sites
Coho Lake City Penelec 0 100%
East Sayre Bradford Penelec 0 100%
Erie West Erie Penelec 0 100%
Jackson Jackson Township Met-Ed 0 100%
North Bangor
North Hershey Bangor Met-Ed 0 100%
Phillipsburg Hummelstown Met-Ed 0 100%
Portland Phillipsburg Penelec 0 100%
Adjacent
Property
Scottsville Meshoppen Penelec 0 100%
Williamsburg Williamsburg Penelec 0 100%
New Jersey Facilities
Stations City GPU Size GPU
Subsidiary (MW) Ownership
(%)
Gilbert & Milford, NJ JCP&L 538 100%
Hellertown Hellertown, PA
Tank Farm
Sayreville Sayreville JCP&L 453 100%
CTs
Glen Gardner CT Glen Gardner JCP&L 160 100%
Werner CT South Amboy JCP&L 212 100%
Reservior
Merrill Creek Washington JCP&L, 0 100%
Met-Ed
Development
Sites
Atlantic Colts Neck JCP&L 0 100%
East Flemington Flemington JCP&L 0 100%
HC Theurk Mercer JCP&L 0 100%
Pequest River Belvedere JCP&L 0 100%
Pohatcong Hackettstown JCP&L 0 100%
Maryland Facilities
Station City GPU Size GPU
Subsidiary (MW) Ownership
(%)
Deep Creek Oakland Penelec 19 100%
Support Facilities
City GPU Size GPU
Subsidiary (MW) Ownership
(%)
Brookville Brookville, PA Penelec 0 100%
Mobile
Maintenance
Genco Johnstown, PA Penelec 0 100%
Headquarters
GPU Nuclear Reading, TMI, All 3 0 100%
Laboratory Oyster Creek Companies
Closing Pending
Forked River CT Forked River, NJ JCP&L 66 100%
York Haven York, PA
Met-Ed 19 100%
FACILITIES INCLUDED IN TRANSACTION
Pennsylvania Facilities
Stations GPU Fuel Type
Ownership
(MW)
Conemaugh 282 Coal, Diesel
Keystone 285 Coal, Diesel
Portland & 570 Coal
Bangor Ash Site
Seward 197 Coal
Shawville 603 Coal, Diesel
Titus 274 Coal
Warren 139 Coal, Nat. Gas, #2 Oil
CTs
Blossburg CT 19 Nat. Gas
Hamilton CT 20 #2 Oil
Hunterstown CT 60 Nat. Gas, #2 Oil
Mountain CT 40 Nat. Gas, #2 Oil
Orrtanna CT 20 #2 Oil
Shawnee CT 20 #2 Oil
Tolna CT 40 #2 Oil
Wayne CT 56 #2 Oil
Hydro
Piney 27 Hydro
Development
Sites
Coho 0 N/A
East Sayre 0 N/A
Erie West 0 N/A
Jackson 0 N/A
North Bangor
North Hershey 0 N/A
Phillipsburg 0 N/A
Portland 0 N/A
Adjacent
Property
Scottsville 0 N/A
Williamsburg 0 N/A
New Jersey Facilities
Stations GPU Fuel Type
Ownership
(MW)
Gilbert & 538 Nat. Gas
Hellertown
Tank Farm
Sayreville 453 Nat. Gas, #2, #6 Oil
CTs
Glen Gardner CT 160 Nat. Gas, #2 Oil
Werner CT 212 #2 Oil
Reservior
Merrill Creek 0 N/A
Development
Sites
Atlantic 0 N/A
East Flemington 0 N/A
HC Theurk 0 N/A
Pequest River 0 N/A
Pohatcong 0 N/A
Maryland Facilities
Station GPU Fuel Type
Ownership
(MW)
Deep Creek 19 Hydro
Support Facilites
GPU Fuel Type
Ownership
(MW)
Brookville 0 N/A
Mobile
Maintenance
Genco 0 N/A
Headquarters
GPU Nuclear 0 N/A
Laboratory
Closing Pending
Forked River 66 Nat. Gas, #2 Oil
CT
York Haven 19 Hydro
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