Great Plains Energy and Westar Energy merger sees one of the largest wind power providers in the US

By Sophie Chapman
The Kansas Corporation Commission and Missouri Public Service Commission have approved the merge of Great Plains Energy and...

The Kansas Corporation Commission and Missouri Public Service Commission have approved the merge of Great Plains Energy and Westar Energy.

The merger of the two firms, based in Kansas City and Topeka, was originally denied in April last year.

However, on the basis that the deal included no transaction debt or exchange of cash, the two companies have formed to make Evergy, Inc.

The combined equity of Great Plains and Westar, following a stock-for-stock merger of equals, is expected to be US$15bn, making Evergy one of the largest wind power providers in the US.

SEE ALSO:

“As neighbors, KCP&L and Westar have served customers in Kansas and Missouri for more than 100 years,” remarked Terry Bassham, Chairman and CEO of Great Plains Energy.

“This merger allows us to be even more efficient as we continue providing excellent customer service while maintaining competitive prices.”

“We appreciate that regulators and shareholders recognize the value in combining the companies.”

The closing date of the deal is anticipated to be in June, following two years of trying to secure the merger.

Evergy will focus on renewable energy and will be able to provide half of all the energy required by the homes and businesses it provides for.

Share

Featured Articles

UK Government awards £54mn in heat network funding

Funding will support the development of schemes in London, Bedfordshire and Woking that use low-carbon heat sources

Shell posts $11.5bn second quarter profit

Shell's earnings fuelled by ongoing price rises and geopolitical instability as the energy major places greater focus on natural gas investments

bp opens first electric truck fast-charging facilities

Operated by bp’s Aral brand, the retail site at Schwegenheim in Rheinland-Pfalz has two 300kw chargers intended for electric trucks

Shell commits to developing Jackdaw gas field in North Sea

Oil & Gas

Prospex Energy raises £1.87m for Selva gas field development

Oil & Gas

Shanghai Electric Group launches low carbon business

Utilities