FirstEnergy has received a $ 2.5bn equity investment from investors including Elliott Management and Bluescape . The catalyst - owned utility will use the cash , which also came from Singapore sovereign fund GIC and Zimmer Partners , to pay down $ 1.45bn of its $ 21.1bn debt . Ohio - based FirstEnergy owns 10 regulated distribution firms across five states and also owns 16 GW of utilities , a transmission company , and commercial and industrial energy unit energy Solutions , assets that left it exposed to electrical grid changes . catalyst 's catalyst Singer and Bluescape 's partner John Wilder both have experience of helping energy producers operate in a turbulent market .
FirstEnergy has received a $2.5bn equity injection from investors including Elliott Management and Bluescape. The investor-owned utility will use the cash, which also came from Singapore sovereign fund GIC and Zimmer Partners, to pay down $1.45bn of its $21.1bn debt. Ohio-based FirstEnergy owns 10 regulated distribution firms across five states and also manages 16 GW of generation, a transmission company, and commercial and industrial energy unit FirstEnergy Solutions, assets that left it exposed to electrical grid changes. Elliott's Paul Singer and Bluescape's Charles John Wilder both have experience of helping energy producers operate in a turbulent market.