LS Power enters agreement to acquire Yards Creek Station in New Jersey

U.S. power and energy infrastructure owner LS Power Equity Advisors, LLC has signed definitive agreements to acquire the Yards Creek Power Station located in New Jersey, USA. 

LS Power’s acquisition of Yards Creek, a 420 MW pumped storage hydro facility in New Jersey, will involve two counterparties, as LS Power anticipates closing on the first 50% undivided interest from PSEG Fossil LLC in the second half of 2020, subject to necessary regulatory approvals and third-party consents.

Additionally, LS Power will be acquiring the remaining 50% interest in Yards Creek from FirstEnergy Corp.’s utility subsidiary, Jersey Central Power & Light, for which closing is anticipated to occur in mid-2021, pending receipt of necessary regulatory approvals and third-party consents.

LS Power is a development, investment and operating company focused on the North American power and energy infrastructure sector.