HOUSTON--(BUSINESS WIRE)--Dynegy Inc. (NYSE: DYN) has closed on the sale of its Dighton and Milford energy facilities to Starwood Energy Group Global. As previously disclosed, the $119 million in proceeds from the sale will go toward debt reduction.
The transaction, undertaken to address Federal Energy Regulatory Commission (FERC) concerns about competition in the ISO-NE’s Southeastern New England capacity zone, received the required approval from FERC on September 19.
About Dynegy
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 28,000 megawatts of electricity—or enough energy to power more than 22 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.
Forward-Looking Statements
This news release contains statements reflecting assumptions, expectations, projections, intentions or beliefs about future events that are intended as “forward-looking statements,” particularly those statements concerning the use of net proceeds from the sale of the transaction. These statements are based on the current expectations of Dynegy’s management discussion of risks and uncertainties that could cause actual results to differ materially from current projections, forecasts, estimates and expectations of Dynegy is contained in Dynegy’s filings with the Securities and Exchange Commission (the “SEC”). Specifically, Dynegy makes reference to, and incorporates herein by reference, the section entitled “Risk Factors” in its 2016 Form 10-K and subsequent Form 10-Qs. Any or all of Dynegy’s forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks, uncertainties and other factors, many of which are beyond Dynegy’s control.
