Peabody Receives Approval for DIP Financing, Sells Interest in Prairie State
The court also granted final orders approving several other motions, including the planned sale of the companyís 5.06% interest in the Prairie State Energy Campus. Once the court granted its approval, Peabody announced it would sell its stake in Prairie State to the Wabash Valley Power Association for $57 million, subject to certain customary post-closing adjustments. Prairie State is a 1,600- megawatt coal-fired electricity generation plant and adjacent coal mine in Illinois, and the plant commenced operations in 2012. Itís among the cleanest coal-fired plants in the nation.