LS Power completes acquisition of 3,500 MW of power generation facilities

U.S. power and energy infrastructure owner, LS Power Equity Advisors, LLC, has acquired approximately 3,500MW of generation resources in the Southeastern USA, through its affiliate NATGEN Southeast Power, LLC, from Calpine Corporation.

The total amount paid by LS Power has been US$1.57 billion.

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
• Columbia Energy Center, Calhoun County, SC
• Decatur Energy Center, Decatur, AL
• Hog Bayou Energy Center, Mobile, AL
• Oneta Energy Center, Coweta, OK
• Santa Rosa Energy Center, Pace, FL

Paul Segal, chief executive officer of LS Power, stated:

We are pleased to assume ownership of this portfolio of power plants. 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.