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Assets of Combined Cycle Dual-Fuel Power Plant Business

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Listing Information


Assets of Combined Cycle Dual-Fuel Power Plant Business

Price: $37,800,000.00

Other Item Info
Item #: nysbke_293089
Created: 05/21/2019
Category: Business Property > All Assets or Going Concerns > General Industrials
Sale Date: Mon. Jul 8, 2019
Seller Info
Peter Partee
Debtor's Attorney
200 Park Avenue
New York, NY 10166
(212) 309-1000
Bankruptcy Info
Case #: 7:19-bk-23007
Case Title: Empire Generating Co, LLC
Court: New York Southern Bankruptcy Court
Chapter: 11
View Case Docket

See More Documents


Sale of substantially all of assets of the Empire Generating Co, LLC, including all of the issued and outstanding membership interests of Holdings (“Interests”) owned by TTK Empire, which indirectly owns all of the issued and outstanding membership interests of Empire Generating.

Empire Generating owns and operates a combined cycle dual-fuel power plant (the “Plant”) located in Rensselaer, New York, which sits on the east side of the Hudson River directly opposite Albany, approximately 150 miles north of New York City. The Plant began commercial operations in 2010 and has total power generation capacity of approximately 635 MW.

Additional Details

  1. Auction Time: 10:00 a.m.
  2. Sale Hearing Held on July 18, 2019.
  3. Purchase Price: (i) $37.8 million in cash and (ii) 89.75% of the equity in the acquisition vehicle.
  4. Minimum Purchase Price: Bids must provide for a Purchase Price equal to or greater than the Purchase Price stated in the Purchase Agreement (which is comprised of (A) approximately $353,436,447.99 in principal amount plus all accrued and unpaid interest, fees and expenses accrued through the Closing Date other than the fees and expenses of the Prepetition Agent and its professional advisors, representing the Credit Bid Amount, and (B) $30,000, representing the Wind Down Amount), plus (x) the amount of the Break-Up Fee ($1,000,000), plus (y) the Expense Reimbursement ($2,000,000) (each as defined and set forth in the Purchase Agreement), plus (z) a minimum overbid amount of $1,000,000.00, which in the aggregate is a minimum overbid amount of $4,000,000.
  5. Bid Increment: $1,000,000
  6. Bid Deposit: 10% of the cash purchase price
  7. Bid Deadline: July 3, 2019
  8. Last date to respond: June 26, 2019

Other Information

Terms and Conditions:

See Attached.

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