PPL Corporation to sell subsidiary, PPL Safari Holdings

Published on October 03, 2022 by Dave Kovaleski

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PPL Corp. is selling its subsidiary, PPL Safari Holdings LLC, to a subsidiary of Aspen Power Partners LLC.

PPL Safari Holdings is a company that acquires solar projects and develops and manages solar facilities for commercial and industrial customers and public sector organizations.

The decision to sell Safari Holdings 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 advancing the clean energy transition through forward-looking grid investments.

PPL and Aspen expect to close on the transaction in the fourth quarter of 2022, pending a review by the U.S. Department of Justice. The sale is not considered material to PPL Corporation.

PPL Corporation, based in Allentown, Pennsylvania, is a leading U.S. energy company focused on providing electricity and natural gas safely, reliably, and affordably to 3.5 million customers in the U.S. PPL’s high-performing utilities are addressing energy challenges by building smarter, more resilient and more dynamic power grids and advancing sustainable energy solutions.

Aspen Power Partners, based in Dallas, specializes in early-stage distributed generation and storage portfolios. The company’s typical structure involves the acquisition and joint development of a pipeline or portfolio of projects with line of sight to completion in the next 12 to 24 months.