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Stock Market & Financial Investment News

News Breaks
August 22, 2014
07:01 EDTDUK, DYNDynegy to acquire assets from Duke Energy and Energy Capital Partners
Dynegy (DYN) has signed two separate definitive sets of agreements to acquire the ownership interests in certain Midwest generation assets from Duke Energy (DUK) and EquiPower Resources Corp and Brayton Point Holdings, LLC from ECP. The Duke portfolio includes its retail business and ownership interests in the following plants: Killen, Stuart, Conesville, Miami Fort, Zimmer, Hanging Rock, Washington, Fayette, Lee and Dicks Creek. The ECP assets include these generating facilities: Milford, Lake Road, Dighton, Masspower, Liberty, Elwood, Richland, Stryker, Kincaid and Brayton Point. Upon closing both transactions, Dynegy will own nearly 26,000 megawatts of generating capacity nationally and provide retail electricity to residents and businesses in Illinois, Ohio, Pennsylvania and Michigan. Dynegy has committed financing in place for both the liquidity facilities and the transaction purchase prices and expects to access the capital markets in advance of closing to raise the permanent financing for the transactions. Dynegy Inc. intends to issue approximately $5 billion in new unsecured bonds and $1.25 billion in equity and equity-linked securities. Included in the equity figure is $200 million of Dynegy common stock that will be issued to ECP as part of the transaction consideration at closing. To support the collateral and liquidity needs of the combined enterprise, the Company has secured two incremental corporate-level revolving credit facilities totaling $950 million, bringing total revolver capacity at Dynegy Inc. to $1.425 billion. Additionally, approximately $300 million in working capital and cash collateral postings will be transferred to Dynegy with the acquired portfolios at closing. The purchase price is $2.8 billion for Duke assets and $3.45 billion for ECP assets. The transaction’s financing structure is consistent with the Company’s focus on balance sheet management, value-creating capital allocation, and sufficient liquidity to weather changes in commodity markets. The new assets will be incorporated into Dynegy’s existing first lien structure to support the Company’s hedging and collateral management programs.
News For DYN;DUK From The Last 14 Days
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September 1, 2015
10:03 EDTDUKDuke Energy acquires half interest in Sumitomo's Mesquite Creek Wind project
Duke Energy Renewables announced it earlier that it has acquired a 50% stake in Mesquite Creek Wind, a 211-megawatt wind power project near Lamesa, Texas, through its joint venture partnership with Sumitomo Corp. of Americas. The acquisition increases Duke Energy Renewables' Texas wind capacity to more than 1,200 MW, the company noted. Duke Energy and Sumitomo share ownership of the 131-MW Cimarron II and 168-MW Ironwood Wind Power Projects in Kansas, which began operating in 2012.
August 21, 2015
17:29 EDTDUK, DYNPJM releases results for 2018-2019 PJM Interconnection capacity auction
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August 20, 2015
10:01 EDTDUKDuke Energy seeks proposals for solar in South Carolina
Duke Energy issued a request for proposals for about 53 megawatts of utility-scale solar capacity to be in-service in its South Carolina service areas by the end of 2016. In a separate RFP, the company seeks up to 5 megawatts of solar capacity for its Shared Solar Program, an innovative offer that will allow multiple customers to subscribe to the output of a specific solar facility and share in the economic benefits of the power produced. Projects should be greater than 250 kilowatts and no more than 1 megawatt of capacity. The company anticipates the Shared Solar Program will be particularly attractive to customers who want to receive the benefits of renewable energy but may not be able to install solar on their premises, such as renters or those who live in multi-family housing.

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