<b>IP Selling N.Y. Power Plant</B>

TransCanada PipeLines Ltd. is paying $285 million for International Paper Co.'s Curtis Palmer Hydroelectric Co. LP, an operator of two power plants in New York state.

Curtis Palmer owns and operates two hydroelectric plants near Corinth, New York, and sells the electricity under a 25-year fixed price agreement with Niagara Mohawk Power Corp.

March 2001
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