LS Power announces sale of Bluegrass Generation facility to East Kentucky Power Cooperative
LS Power Equity Advisors, through a private fund it manages, has entered into an agreement with East Kentucky Power Cooperative (EKPC) to sell Bluegrass Generation.
LS Power Equity Advisors originally acquired the project from Dynegy, Inc. in November 2009 along with three other assets. The sale, which is subject to regulatory approvals, is expected to close in the fourth quarter of 2015.
Bluegrass Generation Company, LLC operates natural gas fired generating facility in Oldham, Kentucky. The company was incorporated in 1999 and is based in Houston, Texas.
LS Power is an employee-owned, independent power company with offices in New York, New Jersey, Missouri, California and Texas. Since inception, LS Power has developed, constructed, managed or acquired more than 30,000 MW of power generation and 470 miles of transmission infrastructure, for which it has raised over $29 billion in debt and equity financing.
EKPC operates as a not for profit generation and transmission utility in Kentucky. The firm operates as a parent cooperative that produces wholesale power for its 16 member co-ops that in turn service more than a half-million homes, farms, and businesses throughout Central and Eastern Kentucky. The company provides its services through coal plants, renewable energy plants, peaking units, hydro power, and transmission lines.
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