LS Power Equity Advisors, through a private fund it manages, completed its sale of Blythe Energy Center (507 MW natural gas-fired combined cycle plant) and the related 230kV 67-mile electric transmission line to a subsidiary of AltaGas Ltd., a Calgary, Canada-based energy infrastructure company, for $515 million. LS Power Equity Advisors originally acquired the project from a subsidiary of NextEra Energy Resources in Q4 2011 along with three other assets.
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 expansion solutions. Since inception, LS Power has developed or acquired 50,000 MW of power generation, including utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired facilities. Through its transmission business, LS Power Grid, the company operates 7 transmission utilities, has built 780+ miles of high-voltage transmission with another 400+ miles currently in construction or development. LS Power actively invests in and scales businesses that are meeting the growing needs of the energy expansion, including electric vehicle charging, demand response, microgrids, renewable fuels and waste-to-energy platforms. Over the years, LS Power has raised more than $78 billion in debt and equity capital to support North American infrastructure. For information, please visit www.lspower.com.
