Regional Radio News has learned that EquiPower Resources Corporation, an investment group that purchased the Kincaid Power Station less than a year ago, has sold the Kincaid plant along with several other plants around the country, to Dynegy, Incorporated.
Businesswire-dot-com is reporting that agreements have been signed for the transaction to occur by the end of first quarter 2015.
In the announcement, Dynagy officials indicated that the additional plants being bought will significantly improve their financial outlook by tripling their 2015 adjusted cash flow.
The purchase of the plants from EquiPower Resources by Dynagy will be financed with a combination of Dynegy Inc. issuing 5-billion dollars in new unsecured bonds and one-point-2-5 billion in equity and equity-linked securities. Included in the equity figure is 200-million dollars of Dynegy common stock that will be issued to ECP as part of the transaction consideration at closing.