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LS Power Completes Acquisition of 1,600 MW Power Generation Portfolio in the Northeast

LS Power Completes Acquisition of 1,600 MW Power Generation Portfolio in the Northeast

New York, NY – May 4, 2018 — U.S. power and energy infrastructure owner LS Power Equity Advisors LLC (“LS Power”) announced the completed acquisition of two additional generation facility interests from FirstEnergy Corporation through its affiliate Aspen Generating, LLC:

  • Bath (Bath County, Virgina) – 3,008 megawatts, pumped storage hydroelectric facility, for which LS Power acquired a 23.8% interest (716 MW) in May 2018, and
  • Buchanan (Buchanan County, Virginia) – 80 megawatts, two simple-cycle gas-fired peaking units, for which LS Power acquired a 50% interest (40 MW) in March 2018.

The initial transaction with FirstEnergy Corporation occurred in December 2017, when LS Power acquired four generation facilities:

  • Springdale (Springdale Township, Pennsylvania) – 623 megawatts, multiple-unit generating facility using simple-cycle and combined-cycle unit
  • Chambersburg (Guilford Township, Pennsylvania) – 88 megawatts, natural gas combined-cycle facility
  • Gans (Springhill Township, Pennsylvania) – 88 megawatts, natural gas combined-cycle facility
  • Hunlock (Hunlock Creek, Pennsylvania) – 45 megawatts, natural gas combined-cycle facility

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, LS Power has consistently been at the leading edge of the industry’s evolution, often introducing or commercializing new technologies and developing new markets. To date, LS Power has developed, constructed, managed or acquired more than 42,000 MW of power generation, including utility scale solar, wind, hydro, natural gas-fired and battery storage projects, and over 630 miles of transmission, for which it has raised in excess of $45 billion in debt and equity financing to support North American infrastructure. Additionally, LS Power actively invests in businesses and platforms focused on distributed energy resources and energy efficiency. For more information, please visit www.LSPower.com.