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
Integrating AI Data Centers into Canada's Electricity Grids
CALGARY - Artificial intelligence (AI) is revolutionizing various sectors, driving demand for data centers that support AI applications. In Canada, this surge in data center development presents both economic opportunities and challenges for the electricity grid. Integrating AI-focused data centers into Canada's electricity infrastructure requires strategic planning to balance economic growth with sustainable energy practices.
Economic and Technological Incentives
Canada has been at the forefront of AI research for over three decades, establishing itself as a global leader in the field. The federal government has invested significantly in AI initiatives, with over $2 billion allocated in 2024 to maintain Canada's…
