Coal-fired power plant operator files for bankruptcy

Power plant operator Longview Power LLC and some of its affiliates filed for Chapter 11 bankruptcy, according to Reuters.

Longview Power, which is majority owned by First Reserve Corp., reportedly listed liabilities and assets of more than $1 billion, the article said. The company has hired Alvarez & Marsal North America LLC as its restructuring advisor, and Lazard Ltd. as its investment banker. Longview said in the article that there would be no interruption to its business and employees would not be affected by the filing.

The company owns a 700 MW supercritical coal-fired power plant in Maidsville, W.Va. The plant began operations in June 2011.

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