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LS Power Announces Sale of Carville and Oneta projects to Argo Infrastructure Partners

LS Power Announces Sale of Carville and Oneta projects to Argo Infrastructure Partners

August 15, 2019

LS Power Equity Advisors, through a private fund it manages, has entered into an agreement to sell the Carville Energy Center (516 MW natural gas-fired combined cycle facility in St. Gabriel, LA) and the Oneta Energy Center (1,127 MW natural gas-fired combined cycle facility in Coweta, OK) to an investment vehicle managed by Argo Infrastructure Partners. LS Power Equity Advisors originally acquired the projects from Calpine Corporation along with four other assets. The sale is subject to customary regulatory approvals and is expected to close in the fourth quarter of 2019.

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.