Skip to content
Subscriber Only

Dynegy to Buy Ameren Power Plants in Illinois for No Cash

Ameren Corp. agreed to pay Dynegy Inc. more than $200 million to take over five coal-fired power plants in Illinois and associated debt as the company exits the competitive wholesale electricity business.

Dynegy will get 4,119 megawatts of generation and Ameren’s retail and marketing businesses along with $825 million in debt that will be assumed by a newly formed subsidiary and not the parent company, the Houston-based power producer said in a statement today. Ameren will pay $133 million or more for three natural gas-fueled plants it’s buying back, plus $60 million for corporate expenses and $8 million from a land sale.