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  HOME | Oil & Minerals (Click here for more)

Dynegy to Buy Power-Generation Assets for $6.25 Billion

NEW YORK – Houston-based power producer Dynegy said Friday it will acquire natural gas- and coal-fired generating plants from Duke Energy and Energy Capital Partners in two separate transactions valued at a combined $6.25 billion.

The company plans to buy power plants in the U.S. Midwest from Duke Energy for $2.8 billion, as well as other plants from Energy Capital Partners in New England, Pennsylvania and other states for $3.45 billion.

Dynegy, which exited Chapter 11 bankruptcy in 2012, will increase its nationwide generating capacity by 12,500 megawatts to nearly 26,000 megawatts and will enter the Ohio, Pennsylvania and Michigan markets for the first time as a result of the deals.

Dynegy’s shares rose sharply after the deals were announced and were up 7 percent in afternoon trading Friday on the New York Stock Exchange.

They have risen nearly 50 percent since the start of the year and more than 60 percent over the past 12 months.

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