Houston-based Illinois Power Generating Co., a subsidiary of Dynegy Inc., has filed for chapter 11 protection with a pre-packaged restructuring plan, the Houston Business Journal reported today. Illinois Power Generating Co., also called Genco, reported $970.41 million in debts and $450.14 in assets, according to a filing it made with the Southern District of Texas bankruptcy court. Genco intends to continue its business operations through the course of the restructuring, it said.Genco was originally Ameren Energy Resources before Dynegy acquired the subsidiary from Ameren Corp. in 2013. Dynegy recently closed on the sale of its interest in a joint-venture power plant in Elwood, Illinois, in order to help pay for its acquisition of the remaining interest in Atlas Power, another joint venture.
