Power generating company Dynegy Inc. said on Friday that it would buy power plants and other assets from Duke Energy Corp. and private equity firm Energy Capital Partners in two separate deals worth a combined value of $6.25 billion.
Houston-based Dynegy, which emerged from bankruptcy in 2012, is acquiring interests in 11 power plants in the Midwest from Charlotte-based Duke Energy for $2.8 billion. It will also buy the interests of 10 plants in New England, Pennsylvania and the Midwest from Energy Capital Partners for $3.45 billion. The two separate deals would allow Dynegy to enter new retail markets in Michigan, Pennsylvania and Ohio and nearly double its generating capacity by adding 12,500 megawatts, the company said.
