Deals
Blackstone Does What RWE Can't Do by Reviving Dutch Plant
- Private equity firm reopened Rijnmond gas plant this week
- RWE to mothball gas-fired stations and keeps others shut
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Blackstone Group LP’s reboot of an idled Dutch natural gas-fired power plant this week underlined investor appetite for the unwanted assets of some of Europe’s biggest utilities.
The Rijnmond station in Rotterdam sold electricity on Monday for the first time since the world’s biggest private equity fund bought the bankrupt facility last year. Utilities such as Germany’s RWE AG and Engie SA in France are still keeping some plants shut because they aren’t profitable.