Published: March 20, 2018 |

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Longview Power, the owner and operator of a 700MW coal-fired power plant in West Virginia said that it is exploring strategic alternatives, including a possible refinancing of its existing senior secured debt.

Longview Power has engaged Houlihan Lokey, Inc. as financial advisor to assist in evaluating strategic alternatives.

“Longview Power, the most efficient and one of the cleanest coal-fired power plants in the United States, has performed during the past months at an industry-leading 100 percent capacity factor, even under the most demanding circumstances, such as during the recent ‘cyclone bomb,’ an extreme weather event when over 23 GW of capacity was offline in PJM,” said Longview Power CEO Jeff Keffer.

“Longview Power’s recent strategic initiative to source all its coal from low-cost regional mines producing higher quality fuel has further enhanced Longview Power’s stature as the region’s lowest cost, most reliable coal powered energy generator,” added Keffer.

“In light of these recent events, and Longview’s performance, Longview has decided to explore strategic alternatives.”

Longview Power is privately owned by institutional investors and management including KKR, its principal investor through its credit funds.

KKR has been highly supportive throughout the past few years as Longview Power has improved and enhanced its generating facility.

KKR is a leading global investor with over 41 years of experience, and $168 billion in assets under management and a strong record of performance.

Houlihan Lokey, Inc. is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, valuation, and strategic consulting.

Source:  Energy Business Review

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