LS Power Completes Acquisition of 3,950 MW Power Generation Portfolio in Northeast

 

New York, NY – June 5, 2017 -- U.S. power and energy infrastructure owner LS Power Equity Advisors LLC (“LS Power”) announced today that it has completed the acquisition of approximately 3,950 MW of generation resources in the Northeastern United States, through its affiliate Helix Generation, LLC, from TransCanada Corporation (“TransCanada”) (NYSE: TRP).

The portfolio consists of the following four generation facilities:

  • Ravenswood (Queens, New York) – 2,480 megawatts, multiple-unit generating natural gas facility using dual fuel-capable steam turbine, combined-cycle and combustion turbine
  • Ironwood (Lebanon, Pennsylvania) – 778 megawatts, natural gas combined-cycle facility
  • Ocean State Power (Burrillville, Rhode Island) – 560 megawatts, natural gas combined-cycle facility
  • Kibby Wind (Franklin County, Maine) – 132 megawatts, wind farm

“We are pleased to complete this acquisition and are committed to making this a smooth transition for the dedicated professionals operating these facilities and their communities,” said Paul Segal, chief executive officer of LS Power. “LS Power’s experience owning and operating a diverse array of generating facilities throughout the Northeast uniquely positions us to own and manage this portfolio of power plants. Each of these assets serves a distinct and crucial role to meet the demand needs in their respective Northeast markets. Moreover, these facilities are staffed by skilled personnel that maintain safe and efficient operations for their customers.”

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 30,000 MW of competitive power generation and 500 miles of transmission infrastructure, for which it has raised over $30 billion in debt and equity financing. For more information, please visit www.LSPower.com
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