Dynegy sold its 40% ownership interest in the Conesville power plant, representing 312 megawatts (MW), to American Electric Power (AEP) and acquired AEP’s 25.4% ownership interest (or 330 MW) in the Zimmer power plant. No cash was exchanged, no additional debt incurred and AEP returned $58 million in letters of credit previously posted by Dynegy to AEP. As a result, Dynegy owns 71.9% (971 MW) and operates Zimmer. Dynegy no longer has ownership interest in the AEP-operated Conesville.
