Bankrupt Texas Power Plant Gets $144M Asset Sale Approved

By Leslie A. Pappas (June 27, 2022, 6:26 PM EDT) -- A West Texas electricity producer won a Delaware bankruptcy court's approval Monday to sell its 330-megawatt wholesale electricity power plant assets for $144.75 million — $53.5 million more than the buyer first offered when the plant declared bankruptcy in April.

Ector County Generation LLC placed a $91.25 million opening bid as the stalking horse bidder in a June 22 bankruptcy auction for Ector County Energy Center LLC's plant based in Odessa, Texas. Ector County Generation prevailed as the winner after three hours and 193 rounds of bidding at $250,000 increments.

U.S. Bankruptcy Judge John T. Dorsey of the District of Delaware approved the sale after...

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