Exelon, a Chicago-based electric utility with a $48 billion enterprise value, has been flooding an already crowded power plant M&A scene, with an estimated 3,200 megawatts on the block. Just this week, The Deal has learned that Exelon is deep into the second round with the sale of its West Valley Generating Station, a 185 megawatt natural gas-fired plant located in Salt Lake City, Utah. According to sources, Wayzata Investment Partners is one firm in the running. West Valley is likely to fetch between $400 and $500 per kilowatt hour, which could result in a sale price of about $70 million to $90 million. The sale of West Valley is part of Exelon's ongoing plan to sell non-core assets so more power plants could potentially come on the block.
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