Seeking Alpha

Reported bid for Duke Energy's Midwest power plants could hit $2.5B

  • Blackstone Group (BX) and Riverstone Holdings have teamed up to bid on Duke Energy's (DUK) portfolio of 11 power plants in the Midwest, which could fetch ~$2.5B, WSJ reports.
  • Energy-focused P-E firms Energy Investors Funds and Energy Capital Partners also reportedly submitted bids.
  • Potential buyers are betting the business is positioned to benefit from a recovery in electricity prices, which have been driven down in part by the shale boom that has lowered the cost of natural gas.
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