LS Power to buy 3,500 MW in power plants in U.S. Southeast
The portfolio consists of six combined-cycle generation facilities that use natural gas as the primary fuel source
U.S. power and energy infrastructure owner, LS Power Equity Advisors LLC signed an agreement to acquire about 3,500 MW of power generation resources in the Southeastern United States, through its affiliate NATGEN Southeast Power LLC, from Calpine Corp. for $1.57 billion in cash, subject to working capital and other adjustments.
The portfolio consists of six combined-cycle generation facilities that 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, Louisiana
· Hog Bayou Energy Center, Mobile, Alabama
· Columbia Energy Center, Calhoun County, South Carolina
· Oneta Energy Center, Coweta, Oklahoma
· Decatur Energy Center, Decatur, Alabama
· Santa Rosa Energy Center, Pace, Florida
The transaction is expected to close in the second quarter of 2014, pending receipt of necessary regulatory approvals and third-party consents.