DTE Energy Services Sells Generating Unit to Indianapolis Power & Light Company
DETROIT, March 9 /PRNewswire/ -- DTE Energy Services, Inc. (DTEES), an Ann Arbor, Mich.-based affiliate of DTE Energy, has agreed to sell an 80-megawatt combustion turbine generator to Indianapolis Power & Light Company (IPL). The sale of the unit, known as Georgetown 4, will be completed upon approval by the Indiana Utility Regulatory Commission and the Federal Energy Regulatory Commission.
With the acquisition of Georgetown 4, IPL will own two of the four units that comprise the Georgetown facility located in Indianapolis. IPL has operated all four units since commercial operation began in 2000 and 2001. IPL also has agreed to purchase the power output from Georgetown 4 for the summer cooling months - May through September - to meet the needs of its customers before the sale of the unit is completed.
David Ruud, president, DTEES, said the sale of Georgetown 4 is in line with the parent company's strategy announced late last year to monetize some non-utility assets. "Many of these businesses have grown to sufficient size and scale that we are now well positioned to monetize some of our non-utility assets," he said. "This is the first step in realizing the value from our monetization efforts."
DTEES develops, owns, builds and operates energy projects in the merchant power sector and for large industrial, commercial and institutional customers.
DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include Detroit Edison, an electric utility serving 2.2 million customers in Southeastern Michigan, MichCon, a natural gas utility serving 1.3 million customers in Michigan and other non- utility, energy businesses focused on power and industrial projects, fuel transportation and marketing, and unconventional gas production. Information about DTE Energy is available at http://www.dteenergy.com/.
SOURCE: DTE Energy Services, Inc.
CONTACT: John Austerberry, +1-313-235-8859, or Lorie N. Kessler,
+1-313-235-8807, both of DTE Energy Services, Inc.
Web site: http://www.dteenergy.com/