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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, in addition to its development of over 660 miles of high voltage transmission, LS Power has developed, constructed, managed or acquired more than 42,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired and battery energy storage projects. Additionally, LS Power actively invests in businesses focused on renewable energy and fuels, as well as distributed energy resource platforms, such as CPower Energy Management and EVgo. Across its efforts, LS Power has raised in excess of $45 billion in debt and equity financing to support North American infrastructure. For more information, please visit www.LSPower.com