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

|By:, SA News Editor

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.