LS Power has agreed to buy six gas-fired plants from Mirant representing a combined capacity of more than 3,600 MW. Sale price is just under $1.5 billion.
In a separate announcement, Dynegy Inc. shareholders will meet March 29 to discuss its impending merger with LS Power. The deal already has been approved by the boards of directors of Houston-based Dynegy and East Brunswick, N.J.-based LS Power Group and has met all regulatory approvals. Dynegy announced in September plans to purchase power-generating assets from privately-held LS Power for $4.1 billion. Dynegy will combine its current assets and operations with LS Power Group’s generation portfolio, and Dynegy will acquire a 50 percent ownership interest in a development joint venture with LS Power.
AES Corp. purchased two 231 MW power plants in Mexico for $611 million, including the acquisition of equity and subordinated debt totaled at $190 million and the assumption of $421 million in project debt. The purchase price is worth around $411/kW. AES bought the assets from units of Exelon and Alstom.
Astoria Generating Holdings LLC and EBG Holdings LLC will combine for $5 billion to form US Power Generating Co., which will own and operate eight power plants with a capacity of more than 5,000 MW. The merger would create a company with enough capacity to serve 20 percent of New York City’s electricity load and 50 percent of the Boston metropolitan area load.
Atlantic City Electric Co. sold its B.L. England Generating Station to RC Cape May Holdings, LLC, an affiliate of Rockland Capital Energy Investments, LLC. Net proceeds from the sale will be determined after the sale.
Calpine Corp. received bankruptcy court approval to sell its 250 MW Goldendale Energy Center, LLC to Puget Sound Energy Inc., for $120 million, or $480/kW. Goldendale is a combined-cycle, natural-gas fired plant. PSE must secure about 1,500 average MWs of new power supply by 2015. The Goldendale plant was among the top supply proposals PSE received and was the first the company pursued.