Dynegy Inc. has finalised the sale of its 40% ownership interest (312 MW) in Conesville Power Station, a coal-fired power plant in Ohio, to AEP and acquired AEP’s 25.4% ownership interest (330 MW) in Zimmer Power Station, a coal-fired power plant near Moscow, Ohio.
No cash was exchanged, no additional debt incurred and AEP returned US$58 million in letters of credit previously posted by Dynegy to AEP.
As a result, Dynegy owns 71.9% (971 MW) and operates Zimmer. Dynegy no longer has ownership interest in the AEP-operated Conesville.
Throughout the Northeast, Mid-Atlantic, Midwest and Texas, Dynegy operates power generating facilities capable of producing more than 31 000 MW of electricity — or enough energy to power about 25 million American homes.