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:

Founded in 1990, LS Power is an employee-owned, independent power company with offices in New York, New Jersey, Missouri, California and Texas. LS Power is a developer, owner, operator and investor in power generation and electric transmission infrastructure throughout the United States. Since inception, LS Power has developed, constructed, managed or acquired more than 39,000 MW of competitive power generation and 560 miles of transmission infrastructure, for which it has raised over $39 billion in debt and equity financing. For more information, please visit www.LSPower.com