Dynegy, Energy Capital to buy ENGIE U.S. follis portfolio for $3.3 bln

Dynegy Inc and Energy Capital Partners said Thursday they have formed a joint venture to buy ENGIE’s United States fossil portfolio. The deal includes 8,731 megawatts of generation capacity located in ERCOT, PJM, and ISO-New England. The buyers are committing $1.185 billion in equity to the $3.3 billion deal, which includes $2.25 billion in committed debt facilities. Dynegy will own 65 percent of the joint venture, named Atlas Power, while Energy Capital will have 35 percent. Dynegy is investing approximately $770 million while Energy Capital is putting in $415 million.

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