LS Power Closes Deal for Duke Assets

LS Power Closes Deal for Duke Assets

LS Power Group’s (“LS Power”) purchase of Duke Energy North America’s power plants outside the Midwest closed today, adding approximately 6,300 megawatts of capacity to LS Power’s electricity generation portfolio.

LS Power Equity Partners, a member of LS Power, paid approximately $1.6 billion for nine Duke Energy power plants located in the northeastern and western United States. The transaction, which received Federal Energy Regulatory Commission and Hart-Scott-Rodino approvals, brings LS Power’s total portfolio of generation assets to approximately 8,300 megawatts.

“The completion of this transaction complements our existing assets and enhances LS Power’s presence throughout the country,” said Mike Segal, Chairman and CEO of LS Power.

LS Power has taken ownership of the following assets:

  • Arlington Valley (Maricopa County, Arizona) – 570 megawatts, natural gas-fired, combined-cycle facility
  • Griffith Energy Facility (Mohave County, Arizona) – 300 megawatts (reflects Duke Energy’s 50 percent ownership), natural gas-fired, combined-cycle facility
  • South Bay (Chula Vista, California) – 700 megawatts, conventional steam facility
  • Morro Bay (Morro Bay, California) – 1,002 megawatts, conventional steam facility
  • Moss Landing 1 & 2 (Moss Landing, California) – 1,020 megawatts, natural gas-fired, combined-cycle facility
  • Moss Landing 6 & 7 (Moss Landing, California) – 1,509 megawatts, conventional steam facility
  • Oakland Power Plant (Oakland, California) – 165 megawatts, simple-cycle, fuel-oil facility
  • Maine Independence (Veazie, Maine) – 520 megawatts, combined-cycle facility
  • Bridgeport Energy (Bridgeport, Connecticut) – 490 megawatts, combined-cycle facility

LS Power’s other power generation assets are located in Arkansas, Illinois and Pennsylvania. LS Power is also developing several power generation facilities – with a combined capacity of approximately 4,500 megawatts – in Nevada, Texas, Georgia and Iowa.

LS Power was founded in 1990 and is a fully integrated development, investment and asset management group of companies focused on the power industry. LS Power maintains offices in New Jersey, New York, Missouri, California, Florida and Massachusetts.

LS Power Group Contact
Darpan Kapadia


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.