Dynegy completes sale of Elwood Energy Facility

Source: Dynegy Inc.

Dynegy Inc. has finalized the sale of its 50% equity interest in the Elwood Energy Facility to its partner, J-Power USA Development Co. Ltd. for $172.5 million in cash.

Dynegy Inc. has finalized the sale of its 50% equity interest in the Elwood Energy Facility to its partner, J-Power USA Development Co. Ltd. for $172.5 million in cash. The natural gas-fueled peaking facility in Elwood, IL has a 1,580 megawatt capacity.

As part of the transaction, approximately $35 million in previously posted collateral has been returned to Dynegy, and the nonrecourse asset-level financing remains with the new owner. As previously noted, Dynegy intends to use the net proceeds from the sale to satisfy a portion of the Energy Capital Partners buyout obligation.

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