LS Power Initiates Development of Solar Energy Project Near Arlington Valley Plant
NEW YORK (March 7, 2007) LS Power Group has initiated the development of a stand-alone solar power plant near its natural gas-fueled Arlington Valley Energy Facility, a 570 megawatt combined-cycle plant in Maricopa County, Arizona.
"We have begun serious evaluation of a major thermal solar project on the 3,500-acre parcel we own surrounding the Arlington Valley plant," said Jason Hochberg, president of LS Power. "This large, flat, very sunny location has tremendous potential to produce clean, renewable energy."
The development project is being undertaken by LSP Polaria ("Polaria"), an LS Power subsidiary focused on opportunities in "green" energy and the carbon capture and offset markets. When the pending business combination between LS Power and Dynegy closes, the project will be jointly owned by the two companies under the terms of a joint venture arrangement.
In addition to the stand-alone project, LS Power is studying the feasibility of building an innovative solar integration project at the same location. Thermal solar units would generate steam for use in the combined-cycle plant, possibly reducing fuel consumption and cutting emissions, including greenhouse gases. The integration project would be among the first ever built for commercial use.
"Our goal is to provide clean, efficient, wholesale energy to our customers. They distribute that power to consumers," said Jim Pagano, the LS Power Executive Vice President who is leading Polaria. "Our customers choose the fuels we use based on a balance of concerns, including economics and the environment. Arlington Valley provides a perfect opportunity to further diversify the fuels we offer, and generate very clean energy at an affordable price."
The LS Power Group
Founded in 1990, the LS Power Group is a fully integrated power plant owner, developer and manager. For information on the LS Power Group, please go to www.lspower.com. On September 15, 2006, the LS Power Group and Dynegy Inc., announced a merger transaction involving certain assets of the LS Power Group and Dynegy, Inc.'s assets. For more information on the transaction, please go to