Court approves Boston Gen asset sale
Boston Generating, a unit of privately held US Power Generating Co, had arranged the sale to Constellation as part of its bankruptcy filing in August but needed court permission to go ahead.
U.S. Bankruptcy Judge Shelley Chapman approved the sale in a lengthy, late afternoon ruling, according to the lawyer.
The five Boston-area plants have a combined capacity of 2,950 megawatts, making them the third-largest power generating fleet in New England. They include four natural gas-fired plants and a fuel oil plant.
Constellation, which owns Baltimore Gas and Electric, has about 9,000 megawatts of generating capacity.
Boston Generating filed for bankruptcy protection in August after it was unable to generate sufficient cash to service its debt and fund operations.
The majority of creditors of Boston Generating's $1.1 billion first-lien term bank loan, $250 million first-lien synthetic letter of credit and $70 million first-lien revolving credit facility signed a sales support agreement, the company has said.
Related News

Atlantica - Regulatory Reform To Bring Greener Power To Atlantic Canada
ST. JOHNS - Atlantica Centre for Energy Senior Policy Consultant Neil Jacobsen says the future of Atlantic Canada’s electricity grid depends on agile regulations that match the pace at which renewable technologies are being developed in the race to meet Canada’s climate goals.
In an interview, Jacobsen stressed the need for a more modernized energy regulatory framework, so the Atlantic Provinces can collaborate to quickly develop and adopt cleaner energy.
To this end, Atlantica released a paper that makes the case for responsive smart grid technology, the adaptation of alternative forms of clean energy, the adaptation of hydrogen as an energy source,…