Duke Energy has completed the sale of its non-regulated Midwest generation business to Dynergy Inc., including ownership interests in 11 power plants in Ohio, Illinois and Pennsylvania, Cleveland.com reports. Dynergy paid $2.8 billion for the ownership interests and Duke Energy Retail Sales. The power plants, which have a capacity of approximately 6,100 megawatts, “are dispatched into the PJM wholesale power market” and were “fully owned or partially owned by Duke Energy Ohio and were reported in the company’s Commerical Power business unit,” according to the article. Duke Energy “began the process to exit its non-regulated Midwest Commerical Generation Business in February 2014. The Duke Energy Ohio and Kentucky and Duke Energy Indiana regulated utilities are not a part of the transaction.” The proceeds of the sale will be used “to conduct a balanced recapitalization.” Lynn Good, president, CEO and vice chairman of Duke Energy, said, “This transaction allows Duke Energy to sharpen our focus to better meet our customers’ needs, while creating additional long-term value for our investors.” For more, read the full article