LS Power History
LS Power’s significant business milestones include:
| 1990 | LS Power is formed. Retained by a third-party owner to manage the completion of development, and the construction and financing of a 200 MW cogeneration project located near Buffalo, N.Y. |
| 1992 | Having identified certain regional supply/demand imbalances, LS Power begins developing its first major independent power projects in the U.S. Over the next several years, LS Power, through its development companies, develops eight gas-fired power generation projects, totaling 5,524 MW of capacity. |
| 1998 | LS Power sells certain natural gas-fired projects to Cogentrix Energy. |
| 2001 | LS Power, through its development companies, shifts focus to developing environmentally responsible, reliable, and low-cost coal-fired electric generation projects to meet regional energy needs in targeted areas of the U.S. |
| LS Power sells certain natural gas-fired projects to NRG Energy. | |
| 2003 | LS Power, through its asset management companies, begins providing advisory and asset management services to bank groups that had foreclosed, or were in the process of foreclosing, on power generation portfolios. LS Power advised and managed five projects representing over 4,300 MW of electrical generation capacity. |
| 2005 | LS Power launches LS Power Equity Partners, an investment vehicle focused on the power industry, and successfully raises $1.2 billion in equity financing from a diverse group of endowments, foundations, pension plans, corporations and family offices. |
| 2006 | LS Power Equity Partners acquires Duke Energy’s interests in nine power generation facilities located in the Western and Northeastern U.S., totaling 6,276 MW of net generation capacity. LS Power, through its development company, completes the financing and commences construction of the Plum Point Energy Station, a 665 MW pulverized coal plant in northeast Arkansas. Plum Point is the first new coal-fired generation facility with modern environmental controls to be constructed in the Entergy market. |
| 2007 | LS Power Equity Partners entered into a definitive purchase and sale agreement with Mirant Corporation for the purchase of six U.S. natural gas fired power plants, totaling 3,736 MW of net generation capacity. LS Power completes combination of operating assets and establishment of a development joint venture with Dynegy Inc. LS Power closes LS Power Equity Partners II at $3.085 billion from a diverse group of endowments, foundations, pension plans, corporations and family offices. LS Power, through its development company, completes the financing and commences construction of the Sandy Creek Energy Station, a 900 MW pulverized coal plant in Texas. |