Houston-based Dynegy to sell 2 New York power plants for $23M

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Associated Press

Posted on December 11, 2012 at 9:00 AM

HOUSTON -- Dynegy Inc. plans to auction off two power plants near Newburgh, N.Y., for a combined price of $23 million.

Houston-based Dynegy in October emerged from Chapter 11 bankruptcy protection.

Dynegy is selling the Roseton facility to Louis Dreyfus Highbridge Energy LLC for $19.5 million in cash and assumption of certain liabilities.

The power company will sell the Danskammer facility to ICS NY Holdings LLC for $3.5 million in cash and assumption of some liabilities.

Danskammer was deemed inoperable after it was damaged by Superstorm Sandy. It will be retired and ICS eventually will demolish its remaining structures and remediate the site.

A hearing is set Dec. 21 for a bankruptcy judge to consider approving the sales.

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