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End in Sight for GE Capital's Homer City Odyssey

Nov 28, 2018 - Power, Finance and Risk

A GE Capitalsubsidiary has found a way to divest its stake in the Homer City coal-fired plant in Indiana County, Pa., which underwent Chapter 11 bankruptcy proceedings last year.

The General Electric division is selling its roughly 11% stake in the 1,884 MW facility to an investor specializing in distressed situations, Knighthead Capital Management, which already owns a 7.4% interest in the plant.

The financial terms of the transaction were not disclosed in paperwork submitted to the...