Schadenfreude: Anti-coal Texas utility deal a disaster

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.

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