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LS Power Completes Acquisition of 3,500 MW of Power Generation Facilities in the Southeast

LS Power Completes Acquisition of 3,500 MW of Power Generation Facilities in the Southeast

U.S. power and energy infrastructure owner, LS Power Equity Advisors, LLC (“LS Power”), has acquired approximately 3,500 MW of generation resources in the Southeastern United States, through its affiliate NATGEN Southeast Power, LLC, from Calpine Corporation (“Calpine”) (NYSE: CPN) for $1.57 billion plus adjustments.

The portfolio consists of six combined-cycle generation facilities which use natural gas as the primary fuel source. These facilities have served numerous investor-owned utilities, municipal utilities, cooperatives and other market participants. The Calpine facilities being acquired include the following:

  • Carville Energy Center, St. Gabriel,
  • LA Hog Bayou Energy Center, Mobile, AL
  • Columbia Energy Center, Calhoun County, SC
  • Oneta Energy Center, Coweta, OK
  • Decatur Energy Center, Decatur, AL
  • Santa Rosa Energy Center, Pace, FL

“We are pleased to assume ownership of this portfolio of power plants,” said Paul Segal, chief executive officer of LS Power. “The quality of the assets, the outstanding operational track record of the facilities and the skilled plant personnel were all important factors in our decision. We are committed to making this a smooth transition for the dedicated professionals operating these facilities and their communities. These projects have been reliably serving wholesale power customers in the Southeast for a number of years and we look forward to continuing to provide value for our growing base of customers.”

About LS Power:

LS Power is a development, investment and operating company focused on the North American power and energy infrastructure sector. Since inception in 1990, LS Power has developed, constructed, managed or acquired more than 46,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired and battery energy storage projects, of which over 16,700 MW are currently operating. LS Power’s Energy Transition Platforms include CPower Energy Management, Endurant Energy, EVgo, Rise Light & Power, and REV Renewables, as well as Waste-to-Energy initiatives. In addition, LS Power has developed more than 1,000 miles of high voltage transmission to date, of which over 660 miles are currently operating. Across these efforts, LS Power has raised $49 billion in debt and equity financing to support North American infrastructure. Through 2021, assets under LS Power control avoided 80.67 million metric tons of CO2e, equivalent to nearly 187 million barrels of oil not consumed or over 17.5 million cars taken off the road for one year. For more information, please visit www.LSPower.com.