Dynegy Divests Assets as Part of Engie Deal
Dynegy this week announced it will sell three more power plants to reduce debt as it works to satisfy an agreement with the Federal Energy Regulatory Commission (FERC) reached after the company’s $ 3.3 billion purchase of French energy giant Engie’s U.S.-based assets earlier this year.
Houston, Texas-based Dynegy said it has agreed to sell its 625-MW Lee Energy Facility in Dixon, Ill., in the PJM ComEd region to an affiliate of The Woodlands, Texas-based Rockland Capital for $ 180 million. It also has agreed to sell two natural gas-fired plants totaling 310 MW in Dighton and Milford, Mass., in the Southeastern New England (SENE) capacity zone in ISO-NE to Starwood Energy Group Global of Greenwich, Conn., for about $ 119 million.
The July 12 announcement came just hours after Dynegy said it closed the sale of two other facilities to New York-based LS Power for $ 480 million, a transaction originally announced in February, a few weeks after the deal with Engie was completed.…