Greene Hill Coal Co., an indirect subsidiary of PP&L Resources Inc., was sold recently to two companies of the Consol Coal Group for $52 million.

Greene Hill owned 31,000 acres of undeveloped coal reserves and about 4,000 acres of surface property west of Waynesburg in Greene County, Pa. Consol owns coal mines near the Greene Hill property.

The Realty Company of Pennsylvania, the parent company of Greene Hill and a direct PP&L subsidiary, reached a stock purchase agreement for $52 million in cash with Consol Pennsylvania Coal Co. and Greenon Coal Co., both members of the Consol Coal Group.

Greene Hill acquired the reserves in 1974 to supply PP&L coal- fired power plants. PP&L decided in February that the Greene Hill reserves would not be used as a source of fuel for the company's power plants and decided to market them.

PP&L, the electric utility, is owned by PP&L Resources. Both companies are based in Allentown, Pa.