The Federal Energy Regulatory Commission has approved Dynegy Inc.’s acquisition of a French power company’s U.S.-based power plants, including six power plants in Texas.
The deal with Houston-based power company Dyengy and ENGIE is expected to close on Feb. 7, according to a release from Dynegy. Dynegy will be adding around 9,000 megawatts of generating capacity to its fleet, with 17 power plants. The deal will make Dynegy one of the nation’s largest independent power producers.
The deal is part of Dynegy’s effort to acquire more natural gas-fired power plants, and move away from coal as an energy source.
“This marks another major milestone in Dynegy’s transformation, bringing a large portfolio of high-quality assets in key power markets,” said Dynegy CEO Bob Flexon in a statement.