FirstEnergy sells Fremont Energy Center to AMP for over $500 million

FirstEnergy Corp. subsidiary FirstEnergy Generation Corp. has completed the sale of the Fremont Energy Center to American Municipal Power Inc. for more than $500 million, the company said in a news release.

FirstEnergy said the sale is consistent with its efforts to divest non-strategic assets and use the proceeds to provide the company with additional financial strength and flexibility.

The Fremont Energy Center, located in Fremont, Ohio, is a natural gas combined cycle generation plant with two natural gas turbines and a steam turbine capable of producing 544 MW of load-following capacity and 163 MW of peaking capacity.