Dynegy Completes Acquisition Of ENGIE’S U.S. Portfolio
February 08,2017
Dynegy Inc. has completed its acquisition of ENGIE’s United States portfolio for a total purchase price of $3.3 billion.
The portfolio consists of 9,017 megawatts (MW) of generation capacity, more than 90% of which is gas-fueled.
The plants are located in the Texas ERCOT, PJM and ISO-New England markets
Dynegy now owns more than 31,000 MW of generating capacity.
"The ENGIE transaction adds efficient assets that enhance Dynegy’s existing portfolio in PJM and ISO New England, and diversifies the Company’s geographic markets by establishing a new presence in the Texas ERCOT market," the company said
As previously announced, pursuant to the closing of the transaction, Dynegy acquired ECP’s 35% interest in a joint venture originally formed to acquire the Engie plants, and owns 100% of the acquired business. Dynegy has assumed ECP’s share of the upfront equity funding at closing, and paid ECP the revised discounted floor price of $375 million post-closing.