Ameren Corp. (NYSE: AEE) has announced that it has completed the sale of its merchant generation business, formerly known as Ameren Energy Resources Co. LLC (AER). The company also entered an agreement in October to sell three merchant gas-fired centers, which will mark its exit from the merchant generation business.
The company sold its merchant generation business to an affiliate of Dynegy Inc. AER consisted primarily of Ameren Energy Generating Co. (Genco), including Genco’s 80 percent ownership in Electric Energy Inc.; AmerenEnergy Resources Generating Co.; and Ameren Energy Marketing Co.
The company is expecting to complete the sale of the three gas-fired power plants to a special purpose entity affiliated with and formed by Rockland Capital by the end of the year. The three plants are a 478-MW combined cycle facility in Grand Tower, Ill.; a 460-MW simple cycle facility in Elgin, Ill.; and a 228-MW simple cycle facility in Gibson City, Ill. The sale of the three plants is a separate transaction from the sale of AER to Dynegy.