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LS Power to Acquire 1,279 MW Power Generation Portfolio in PJM

LS Power to Acquire 1,279 MW Power Generation Portfolio in PJM

New York, NY February 28, 2017 — U.S. power and energy infrastructure owner LS Power Equity Advisors, LLC (“LS Power”) announced today that it has signed an agreement to acquire approximately 1,279 MW of generation resources in the Northeastern United States from Dynegy, Inc. (NYSE: DYN).

The facilities are located in the PJM power market and the aggregate portfolio consists of the following:

  • Armstrong Power (Shelocta, PA) – 639 megawatts, natural gas-fired facility comprised of four simple-cycle peaking units
  • Troy Energy (Luckey, OH) – 640 megawatts, natural gas-fired facility comprised of four simple-cycle peaking units

The transaction is expected to close in the third quarter of 2017, pending receipt of necessary regulatory approvals and third-party consents.

About LS Power:

Founded in 1990, LS Power is a premier development, investment, and operating company focused on the North American power and energy infrastructure sector, with leading platforms across generation, transmission and energy transition solutions. Since inception, LS Power has developed or acquired over 47,000 MW of power generation, including utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired facilities. Through LS Power Grid, the firm has built and operates approximately 680 miles of high-voltage transmission and has another 200+ miles and multiple grid infrastructure projects currently under construction or development. Across its efforts, LS Power actively invests in and scales businesses that are accelerating the energy transition, including electric vehicle charging, demand response, microgrids, renewable fuels and waste-to-energy platforms. Over the years, LS Power has raised $53 billion in debt and equity capital to support North American infrastructure.