LS Power Reached Agreement to Purchase Natural Gas Power Plant

SEATTLE (Oil Monster):  LS Power announced that it has reached an agreement with a Platinum Equity affiliate to acquire the Hunterstown natural gas-fired power plant in Gettysburg, Pennsylvania. The transaction to acquire the 810 megawatts (MW) facility is expected to be finalized in Q2 2024. The transaction will help LS Power to make effective contribution to the evolving energy landscape.

The legal advisor for the Hunterstown acquisition is Milbank LLP, whereas the necessary financial advisory services are provided by Guggenheim Securities LLC and Scotiabank, sources said.

Nathan Hanson, President, LS Power Generation noted that the acquisition will make Hunterstown plant a part of LS Power's fleet of flexible gas-fired generation. The acquisition is in line with the company’s strategic vision of seamless transition towards clean energy. The company targets to integrate Hunterstown into its existing collection of flexible gas-fired generation assets, Hanson said.

LS Power manages gas generation fleet, spanning as many as 12 states and boasting over 16,000 MV. The gas-fired generation plays a critical role, especially during this period of peak electricity demand, triggered by rampant electrification and rebound in manufacturing activities.

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