LS Power Announces Sale of Renaissance facility to DTE Energy
LS Power Equity Advisors, through a private fund it manages, has entered into an agreement with a subsidiary of DTE Energy to sell its 100% ownership interest in the 732 MW Renaissance Power gas-fired peaking facility for $240 million including expected working capital adjustments. LS Power Equity Advisors originally acquired the project from Dynegy, Inc. in November 2009 along with three other assets. The sale is expected to close in the First Quarter of 2015.