Several DPL/AES facilities in Ohio and Indiana were recently sold to Kimura Power LLC for a total of nearly $240 million, the company said in a recent filing with the U.S. Securities and Exchange Commission.
That overall sale includes 23 acres of Dayton Power and Light Co. Tait station land off Arbor Boulevard in Moraine, which sold for almost $1.8 million, according to Montgomery County property records.
Also sold was the company’s solar power array off Yankee Street, a DPL Inc., an SEC filing said.
DP&L’s Tait power generating station at Arbor and Carillon Boulevard sold Thursday to Tait Electric Generating Station LLC, according to recent Montgomery County property records.
The seller was AES Ohio Merger Sub LLC. DP&L is owned by Arlington-Va.-based AES Corp. AES Ohio Merger has the same 1065 Woodman Drive mailing address as DP&L’s Dayton headquarters.
The price for just the Tait Station property was $1,763,053.
The same land was transferred last October from DP&L to AES Ohio Merger Sub LLC, records show.
The Tait generation station has seven gas- and/or oil-fired combustion turbines/four diesel generators and several battery power arrays. The station has a summer generating capacity of 586 megawatts, DP&L says.
But Tait Station was only one part of the sale of AES Ohio Generation LLC assets to Kimura Power, DP&L Communications said.
In a filing late last month with the SEC, AES Ohio Generation LLC, a wholly owned subsidiary of DPL Inc., said it sold six facilities to Kimura Power, including the Tait station.
Also sold were the Montpelier combustion turbine generation facility, the Yankee combustion turbine generation and solar facility, the Hutchings combustion turbine generation site, the Monument diesel generation facility; and the Sidney diesel generation facility.
The total purchase price of all the assets at closing was $239.3 million, the filing said.
DPL said it would use the proceeds to “prepay” loans and to redeem about $101 million of its outstanding senior unsecured notes, which are due in 2019. The company will also redeem about $60 million of its outstanding tax-exempt first mortgage bonds, it said in its SEC filing.