Shares of The AES Corporation (NYSE: AES) were up 5% in early trading today after the company said it had agreed to acquire DPL Inc. (NYSE: DPL), the parent company of Dayton Power & Light, for $3.5 billion. AES will also assume DPL’s debt of $1.2 billion. Upon closing of the transaction, DPL will become a wholly owned subsidiary of AES with headquarters in Dayton, Ohio.
Shares of Allentown, Pennsylvania-based power utility PPL Corporation (NYSE: PPL) are up 4.5% this week after the company announced Monday that it will issue common shares worth about $2.1 billion and equity units worth about $750 million to help finance the acquisition of an energy company in the U.K. The shares and units are expected to be issued April 15.
U.S. Democratic senators Tom Udall of New Mexico and Mark Udall of Colorado this week introduced a bill that would require utilities to generate 25% of their electricity from wind, solar and other renewable energy sources by 2025. The bill would start with a 6% requirement by 2013 with gradual increases to meet the 25% goal by 2025.
TransAlta Corporation (TSE: TA.TO) (NYSE: TAC), Canada’s largest wind power company, confirmed Monday it will build a CDN$205-million 66-megawatt (MW) wind power project on the Gaspe Peninsula of Quebec at New Richmond. Output is contracted under a 20-year power purchase agreement with Hydro-Quebec and is expected to begin in Q4 2012.