LS Power to acquire six US gas plantsLS Power Equity Partners, a member of LS Power Group, has agreed to buy six US natural gas fired power plants from Mirant Corporation. The purchase price is $1.407bn, which includes estimated working capital.
The plants are Zeeland (903 MW), West Georgia (613 MW), Shady Hills (469 MW), Sugar Creek (561 MW), Bosque (546 MW) and Apex (527 MW), constituting a total of 3,619 MW.
Mike Segal, chairman and CEO of LS Power, said, 'Because these assets are generally located in markets that have seen limited deregulation, this acquisition plays well into one of LS Power's key strengths - working directly with utilities and load serving entities to help them satisfy their power needs.'
LS Power was founded in 1990 and is a fully integrated development, investment and asset management group of companies focused on the power industry. LS Power maintains offices in New York, New Jersey, Missouri, California, Florida and Massachusetts.
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