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LS Power Announces Sale of Safe Harbor hydroelectric facility to Brookfield Renewable Energy Partners

LS Power Announces Sale of Safe Harbor hydroelectric facility to Brookfield Renewable Energy Partners

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:

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 more than 660 miles of high voltage transmission, LS Power has developed, constructed, managed or acquired more than 45,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired and battery energy storage projects. LS Power actively invests in distributed energy resource platforms, such as CPower Energy Management, Endurant Energy and EVgo, as well as Primary Renewable Fuels. Additionally, LS Power invests in renewables and energy storage through REV Renewables. Across its efforts, LS Power has raised in excess of $47 billion in debt and equity financing to support North American infrastructure. For more information, please visit www.LSPower.com.