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LS Power Agrees to Acquire Duke Energy’s DENA Power Generation Assets – Firm Commits to Smooth Transition

LS Power Agrees to Acquire Duke Energy’s DENA Power Generation Assets – Firm Commits to Smooth Transition

January 12, 2006

On Monday, January 9th, Duke Energy announced the sale of its Duke Energy North America (“DENA”) power generation assets to a member of the LS Power Group (“LS Power”). Since its founding in 1990, LS Power has been a developer, owner, and manager of power plants. The firm has owned, managed and operated thousands of megawatts of generation capacity in markets throughout the United States.

LS Power sees significant long-term potential in the DENA facilities. The quality of the assets, the outstanding operational track record of each of the facilities and the skilled plant personnel were all important components of the acquisition decision. Going forward, LS Power will seek to build upon the facilities’ past successes and improve the portfolio’s performance. The firm is committed to making the transition of the assets from Duke to LS Power a smooth one for the employees and the local communities. LS Power is looking forward to working with the plant personnel and becoming a member of the greater business communities.

The LS Power Group

Founded in 1990, the LS Power Group is a fully integrated power plant owner, developer and manager with offices in New York, New Jersey, Missouri and Florida.

LS Power Group Contact:
Darpan Kapadia, Managing Director
212-615-3456
dkapadia@lspower.com

About LS Power:

LS Power is a development, investment, and operating company focused on the North American power and energy infrastructure sector. Since its inception in 1990, LS Power has developed, constructed, managed, or acquired more than 46,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired, and battery energy storage projects, of which ~17,000 MW are currently operating. LS Power’s Energy Transition Platforms include CPower Energy Management, Endurant Energy, EVgo, Rise Light & Power, and REV Renewables, as well as Waste-to-Energy initiatives. In addition, LS Power developed and operates over 680 miles of high-voltage transmission, with an additional 100+ miles and multiple substations under construction. Across these efforts, LS Power has raised $50 billion in debt and equity financing to support North American infrastructure. Through 2021, assets under LS Power control avoided 80.67 million metric tons of CO2e, equivalent to nearly 187 million barrels of oil not consumed or over 17.5 million cars taken off the road for one year. For more information, please visit www.LSPower.com.