LS Power to Purchase a 4GW Generation Portfolio from TransCanada

By Editors of Power Engineering

LS Power Equity Advisors LLC announced they’ve signed an agreement to purchase a portfolio consisting of 3,950 MW of generating capacity from TransCanada Corp.

The portfolio includes:

·      Ravenswood, a 2,480-MW, combined-cycle natural gas facility in Queens, New York

·      Ironwood, a 778-MW combined-cycle natural gas facility in Lebanon, Pennsylvania

·      Ocean State Power, a 560-MW, combined-cycle natural gas facility in Burrillville, Rhode Island

·      Kibby Wind, a 132-MW wind facility in Franklin County, Maine

“LS Power’s experience owning and operating a diverse array of generating facilities throughout the Northeast uniquely positions us to acquire this portfolio of power plants,” said Paul Segal, chief executive officer of LS Power. “Each of these assets serves a distinct and crucial role to meet the demand needs in their respective Northeast markets.”

The purchase is slated to close in the first quarter of 2017. 

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