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Dynegy Acquiring Greater Shares Of Two More Ohio Power Plants, To Result In Full Ownership

April 25, 2017

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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

Dynegy has entered into an agreement to acquire from AES subsidiaries greater shares in two Ohio generating stations, which would result in Dynegy being the sole owner of the two plants.

On April 21, 2017, Dynegy’s indirect wholly-owned subsidiaries, Dynegy Zimmer, LLC and Dynegy Miami Fort, LLC, entered into an Asset Purchase Agreement with AES Ohio Generation, LLC and The Dayton Power and Light Company pursuant to which Dynegy Zimmer and Dynegy Miami Fort, as applicable, will purchase DP&L’s (or, upon receipt of FERC approval of the divestiture by DP&L of its Ohio generation assets to AES Ohio, AES Ohio’s) entire 28.1% undivided interest in the Wm. H. Zimmer Generating Station, a coal-fired electric generating plant located in Moscow, Ohio, and 36.0% undivided interest in Miami Fort Unit 7 and Miami Fort Unit 8, a coal-fired electric generating plant located in North Bend, Ohio, approximately 740 megawatts in total (summer capacity), for $50 million in cash and the assumption of certain liabilities, including environmental liabilities.

The cash purchase price is subject to adjustment at closing based on the amount of certain inventories, pre-paid amounts, employment benefits, insurance premiums, property taxes and other costs prior to closing.

As previously reported, Dynegy had previously reached an agreement to increase its share of the Zimmer plant, whose total capacity is approximately 1,350 MW, to 71.9% by acquiring AEP's share

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