LS Power to Acquire Calpine Power Plants for $1.57B
April 22, 2014
LS Power has agreed to purchase six power plants from Calpine (NYSE: CPN) for $1.57 billion in cash. The portfolio of assets comprises 3,498 MW of combined-cycle generation capacity in Oklahoma, Louisiana, Florida, Alabama and South Carolina. The asset acquisition is the first in a few months for LS Power, which recently bought 11 hydroelectric power stations from FirstEnergy (NYSE: FE) for $395 million.