LS Power Announces Sale of Blythe Energy Center to AltaGas Power Holdings

March 26, 2013 - LS Power Equity Advisors, through a private fund it manages, has entered into an agreement with a subsidiary of AltaGas Ltd., a Calgary, Canada-based energy infrastructure company, to sell the Blythe Energy Center (507 MW natural gas-fired combined cycle plant) and the related 230kV 67-mile electric transmission line for $515 million plus expected working capital and other customary purchase price adjustments. LS Power Equity Advisors originally acquired the project from a subsidiary of NextEra Energy Resources in Q4 2011 along with three other assets. The sale is expected to close in Q2 2013.








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