LS Power Completes Acquisition of 3,500 MW of Power Generation Facilities in the Southeast

New York, July 3, 2014 -- U.S. power and energy infrastructure owner, LS Power Equity Advisors, LLC (“LS Power”), has acquired approximately 3,500 MW of generation resources in the Southeastern United States, through its affiliate NATGEN Southeast Power, LLC, from Calpine Corporation (“Calpine”) (NYSE: CPN) for $1.57 billion plus adjustments.

The portfolio consists of six combined-cycle generation facilities which use natural gas as the primary fuel source. These facilities have served numerous investor-owned utilities, municipal utilities, cooperatives and other market participants. The Calpine facilities being acquired include the following:

Carville Energy Center, St. Gabriel, LA Hog Bayou Energy Center, Mobile, AL
Columbia Energy Center, Calhoun County, SC Oneta Energy Center, Coweta, OK
Decatur Energy Center, Decatur, AL Santa Rosa Energy Center, Pace, FL

“We are pleased to assume ownership of this portfolio of power plants,” said Paul Segal, chief executive officer of LS Power. “The quality of the assets, the outstanding operational track record of the facilities and the skilled plant personnel were all important factors in our decision. We are committed to making this a smooth transition for the dedicated professionals operating these facilities and their communities. These projects have been reliably serving wholesale power customers in the Southeast for a number of years and we look forward to continuing to provide value for our growing base of customers.”

About LS Power:
Founded in 1990, LS Power is an employee-owned, independent power company with offices in New York, New Jersey, Missouri and California. 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 32,000 MW of competitive power generation and 470 miles of transmission infrastructure, for which it has raised over $28 billion in debt and equity financing. For more information, please visit www.LSPower.com
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