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LS Power Announces Completion of Project Financing For Sandy Creek Energy Associates, L.P.

LS Power Announces Completion of Project Financing For Sandy Creek Energy Associates, L.P.

LS Power Group announced today that Sandy Creek Energy Associates, L.P. (“Sandy Creek”), a joint venture between subsidiaries of LS Power Group and Dynegy Inc., has completed financing that will allow construction of its 900 megawatt pulverized coal plant in McLennan County, Texas. Sandy Creek’s financing was arranged by Credit Suisse Securities LLC and RBS Securities Corporation.

On financial closing, Sandy Creek sold a 25% undivided ownership interest in the project to Brazos Sandy Creek Electric Cooperative, Inc. Sandy Creek has also entered into a long-term power purchase agreement with Brazos Electric Power Cooperative, Inc., to purchase 150 megawatts of the proposed facility’s output, and expects to enter into additional long-term power purchase agreements with regional load serving entities for the balance of its ownership share.

An affiliate of LS Power and Dynegy will manage construction and commercial operations of the project.

The project is being constructed pursuant to a turnkey engineering, procurement and construction contract with Sandy Creek Power Partners, L.P., a joint venture composed of Zachry Construction Corporation, Overland Contracting Inc, and Gilbert Industrial Corporation. Commercial operation is expected to begin in 2012.

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 ~16,700 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 660 miles of high-voltage transmission, with an additional 100+ miles and multiple substations under construction. Across these efforts, LS Power has raised $49 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.