Dynegy plans to acquire ENGIE’s 9,058 megawatt US fossil portfolio for $3.3 billion. This transaction, which is expected to close in the fourth quarter of 2016, continues our transformation into a predominantly gas generation fleet and will increase our net generating capacity to nearly 35,000 megawatts (MW)—enough to power 28 million homes.
“The acquisition accelerates Dynegy’s transformation that began in 2011, to build a long-term sustainable portfolio in key competitive markets,” said Robert C. Flexon, President and CEO of Dynegy. “It is the right assets, in the right markets, at the right price.”
Acquiring this portfolio makes enormous strategic sense for Dynegy. Select key benefits include: