ExGen Texas Power secures court approval of $60 million asset sale

By Caroline Salls

Pittsburgh, Jan. 8 – ExGen Texas Power, LLC obtained court approval of the $60 million sale of its assets to Exelon Generating Co., LLC, according to an order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the company canceled a Dec. 18 auction after receiving no other qualified bids for the assets.

Exelon was the stalking horse bidder under the court-approved bid procedures.

ExGen is the owner of a portfolio of combined-cycle and natural gas-fired peaking and steam turbine generators in Texas. The company is owned by Exelon Generation Co. ExGen filed for bankruptcy on Nov. 7 under Chapter 11 case number 17-12377.

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