LS Power to acquire Hunterstown gas power plant in Pennsylvania
US power company LS Power has signed a strategic agreement with an affiliate of Platinum Equity to acquire the Hunterstown natural gas-fired power plant in Gettysburg, Pennsylvania, it said on January 16.
The Hunterstown power plant is an 810 MW combined cycle gas-fired facility situated within the PJM Interconnection. LS Power's acquisition of this power generation asset is slated to close in the second quarter of 2024, subject to regulatory approvals and customary closing conditions.
LS Power, already a major player in the energy landscape, operates a gas generation fleet exceeding 16 GW across 12 states. This diverse portfolio complements the company's broader commitment to various energy transition platforms, including wind, hydro, solar power, battery energy storage, demand response, microgrids, renewable fuels, electric transportation, and transmission infrastructure.
"In order to decarbonise the electric grid in a reliable, affordable, and responsible manner, we will need to continue utilising efficient, flexible gas-fired generation, for which our fleet is well positioned to help accelerate the clean energy transition by managing the intermittency of renewables," said Paul Segal, CEO of LS Power.
The PJM Interconnection serves as a critical hub for electricity transmission and reliability across multiple states in the northeastern US.