Homer City Generating

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Pennsylvania City Is Offered $230-$535 million for Aging Coal Plant It Owes $606 Million On

Darren Sweeney for SNL: GE Capital US Holdings Inc.’s Homer City Generation LP has received “multiple bids” for its market-challenged coal plant. Homer City Generation operates the three-unit, 1,907-MW coal plant in Indiana County, Pa. GE Capital US Holdings owns a 95% common equity interest in the plant, and MetLife Inc. holds a minority stake. […]

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Emblematic of a Sector in Distress, Homer City Power Station in West Pennsylvania Is on the Ropes

The Hour Is Late for This Generator and for the Mines That Supply It; More Evidence that U.S. Merchant Coal Plants Are No Longer Viable

In late 2012, Edison International’s 1,884-megawatt Homer City Generating Station in western Pennsylvania went bankrupt. The subsequent workout allowed General Electric Capital Corp, the major bondholder in the plant, to take control. Now, on the heels of a weak end-of-year 2015 financial report, GE has indicated that the plant is in default on its debt […]

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