Dynegy Inc. and Energy Capital Partners, through a newly formed joint venture, have signed a definitive agreement to acquire the United States fossil portfolio of Engie (f/k/a GDF Suez), consisting of 8,731 megawatts of generation capacity located in ERCOT, PJM, and ISO-New England.
The joint venture has secured financing for the $3.3 billion acquisition ($378/kW), as well as related transaction fees and working capital, with $2.25 billion in committed debt facilities and $1.185 billion in equity commitments from its owners, which includes transaction fees and initial cash balance.
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