LS Power Agrees to Acquire 1,279 MW Power Generation Portfolio From Dynegy
New York, NY February 28, 2017 --
U.S. power and energy infrastructure owner LS Power Equity Advisors, LLC (“LS Power”) announced today that it has signed an agreement to acquire approximately 1,279 MW of generation resources in the Northeastern United States from Dynegy, Inc. (NYSE: DYN).
The facilities are located in the PJM power market and the aggregate portfolio consists of the following:
- Armstrong Power (Shelocta, PA) – 639 megawatts, natural gas-fired facility comprised of four simple-cycle peaking units
- Troy Energy (Luckey, OH) – 640 megawatts, natural gas-fired facility comprised of four simple-cycle peaking units
The transaction is expected to close in the third quarter of 2017, pending receipt of necessary regulatory approvals and third-party consents.
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.