HOUSTON--(BUSINESS WIRE)--Dynegy Inc. (NYSE: DYN) today finalized the sale of its 40% ownership interest (312 MW) in Conesville Power Station to AEP and acquired AEP’s 25.4% ownership interest (330 MW) in Zimmer Power Station. No cash was exchanged, no additional debt incurred and AEP returned $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.
At Dynegy, we generate more than just power for our customers. We are committed to being a leader in the electricity sector. Throughout the Northeast, Mid-Atlantic, Midwest and Texas, Dynegy operates power generating facilities capable of producing more than 31,000 megawatts of electricity—or enough energy to power about 25 million American homes. We’re proud of what we do, but it’s about much more than just output. We’re always striving to generate power safely and responsibly for our wholesale and retail electricity customers who depend on that energy to grow and thrive.