A deal forged in hell with enviros returns there.
You may remember the KKR-led buyout of Texas utility TXU in 2007 that included KKR’s promise to enviros not to built 8 of 11 coal-fired power plants. That deal has now produced 90% losses to KKR and other private equity investors thanks to lower-than-expeced natural gas prices.
Read and snort at the New York Times report of the disaster.