Coal, Gas

Dynegy, equity firms in the running for Duke Energy power plants

Dynegy (NYSE: DYN) and four private-equity firms are bidding on a fleet of 13 Midwestern power plants owned by Duke Energy (NYSE: DUK).

According to the Charlotte Business Journal, an analyst valued the plants at $2 billion. Eleven are located in Ohio, one in Illinois and one in Pennsylvania and they all burn either natural gas, coal or oil. The utility announced in February that it was looking to exit its Midwest commercial generation business, including the plants that have a total capacity of about 6,600-MW.

Houston-based Dynegy and Dynegy Holdings LLC underwent a Chapter 11 reorganization plan and emerged from bankruptcy in 2012. The company bought subsidiaries from Ameren (NYSE: AEE) in March 2013, bringing Dynegy’s generating capacity nationwide to 14,000-MW, including 8,000-MW in Illinois.