A PYMNTS Company

US: Westar, Great Plains Energy announce $12.2B merger

By  |  June 2, 2016

Great Plains Energy Inc., the parent company of Kansas City Power & Light, is acquiring Kansas electric utility Westar Energy in a combined cash and stock transaction with an enterprise value of approximately $12.2 billion, including total equity value of approximately $8.6 billion.

Upon closing, Westar will become a wholly owned subsidiary of Great Plains Energy. With the addition of Westar’s generation fleet, Great Plains Energy will have a more diverse and sustainable generation portfolio, the companies say, adding that this will provide increased flexibility to mitigate the potential customer impacts from future carbon regulations.

In addition, among investor-owned utilities in the U.S., the combined company will have one of the largest portfolios of wind generation in the country, the companies note. Most recently in Kansas, Westar signed a 200 MW wind power agreement with an affiliate of NextEra Energy Resources and a 280 MW agreement with Infinity Wind Power.

Full Content: North America Wind Power

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.