LS Power Announces Sale of Renaissance facility to DTE Energy

New York, NY November 11, 2014 -- LS Power Equity Advisors, through a private fund it manages, has entered into an agreement with a subsidiary of DTE Energy to sell its 100% ownership interest in the 732 MW Renaissance Power gas-fired peaking facility for $240 million including expected working capital adjustments. LS Power Equity Advisors originally acquired the project from Dynegy, Inc. in November 2009 along with three other assets. The sale is expected to close in the First Quarter of 2015.

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 30,000 MW of competitive power generation and 470 miles of transmission infrastructure, for which it has raised over $29 billion in debt and equity financing. For more information, please visit www.LSPower.com
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