Texas Coal Plant Nears $1 Billion Restructuring After Customer’s Bankruptcy

LS Power Development LLC is in advanced talks on handing control of its coal-fired Sandy Creek Energy Station in Texas to lenders in a roughly $1 billion debt restructuring, according to people familiar with the matter.

The potential agreement being negotiated covers LS Power’s Sandy Creek Energy Associates LP, the controlling stakeholder in the Sandy Creek electric generating plant in Riesel, Texas, which would be turned over to the lenders, the people said.

LS…

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