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LS Power Announces Sale of Calhoun Energy Center to Harbert Power

LS Power Announces Sale of Calhoun Energy Center to Harbert Power

March 22, 2016

LS Power Equity Advisors, through a private fund it manages, has entered into an agreement with East Alabama Generating, LLC, a subsidiary of Harbert Power Fund V, LLC, to sell Calhoun Energy Center, subject to regulatory approvals. LS Power Equity Advisors originally acquired the project from a subsidiary of NextEra Energy Resources in 2011 along with three other assets. The sale is expected to close in the Second Quarter of 2016.

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.