A federal bankruptcy judge in Delaware has approved the prepackaged chapter 11 plan submitted by West Virginia’s Longview Power LLC., Kallanish Energy reported. The plan was approved by Bankruptcy Judge Brendan Shannon. Last April, the company had filed the plan that will transition ownership to its senior secured lenders. The plan will eliminate the company’s debt and provide $40 million in a new money exit facility, the company said. The action was taken due to less demand for electricity due to cheap natural gas, a warm winter and the coronavirus pandemic, the company said. Longview has announced plans to add a natural gas-fired unit and a solar facility near Morgantown, W.Va., at the cost of about $1.2 billion.
