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LS Power Announces Sale of Safe Harbor Hydroelectric Facility

LS Power Announces Sale of Safe Harbor Hydroelectric Facility

February 06, 2014

LS Power Equity Advisors, through a private fund it manages, has entered into an agreement with a subsidiary of Brookfield Renewable Energy Partners, L.P. to sell its 33.3% ownership interest (with 50% voting rights) in the 417 MW Safe Harbor hydroelectric facility for $303 million including expected working capital adjustments. LS Power Equity Advisors originally acquired the project from PPL Corporation in Q1 2011 along with two other assets. The sale is expected to close in Q1 2014.

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 47,000 MW of power generation, including utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired facilities. Additionally, LS Power Grid has built 780+ miles of high-voltage transmission, with 350+ miles and multiple grid infrastructure projects currently under construction or development. 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 $54 billion in debt and equity capital to support North American infrastructure. For information, please visit www.LSPower.com.