Dynegy has completed an internal restructuring to create separate coal-fired power generation and gas-fired power generation units.
The company said that its new CoalCo and GasCo subsidiaries have closed on new senior secured credit facilities in the aggregate amount of $1.7 bn.
The new facilities consist of a two five-year senior secured term loan facility: one worth $1.1 bn available to Dynegy Power (GasCo facility), and another $600 m available to Dynegy Midwest Generation (CoalCo facility).
The company’s operations have now been reorganized into three segments: gas, coal and other.
The gas segment includes a portfolio of eight primarily natural gas-fired intermediate (combined-cycle) and peaking (combustion and steam turbines) power generation facilities diversified across the West, Midwest and Northeast regions of the US, with a total capacity of 6 771 MW.
The coal segment includes a portfolio of six primarily coal-fired baseload power generation facilities located in the Midwest, with a total capacity of 3 132 MW.
Dynegy said its remaining assets including leasehold interests in the Danskammer and Roseton facilities constitute the third business segment.
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