Houston-based Dynegy Inc. announced today a pair of acquisitions, totaling $6.25 billion, which will nearly double its coal and gas electricity generation portfolio to 26,000 megawatts.
In separate deals with Charlotte-based Duke Energy and Energy Capital Partners, a private equity firm based in New Jersey, Dynegy inherits a variety of Midwest generation portfolios. The company will use those assets to deliver retail electricity supply to customers in Pennsylvania, Ohio, Illinois and Michigan.
The deal with Duke Energy is worth $2.8 billion and includes ownership in 11 power plants and Duke Energy Retail Sales. The deal with Energy Capital Partners is valued at $3.45 billion and includes ownership in 10 power plants.
The acquisitions will give Dynegy a stronger market presence in the PJM and New England electricity markets, company president and CEO Robert C. Flexon said in a news release.
The transaction is expected to close late this year or in early 2015.
Michael Sanserino: email@example.com, 412-263-1969 and Twitter @msanserino.