M&A Deal Summary

LS Power Development Acquires FirstEnergy - 4 Natural Gas Generating Plants

On January 19, 2017, LS Power Development acquired utilities company FirstEnergy - 4 Natural Gas Generating Plants from FirstEnergy for 925M USD

Acquisition Highlights
  • This is LS Power Development’s 1st transaction in the Utilities sector.
  • This is LS Power Development’s 2nd largest (disclosed) transaction.
  • This is LS Power Development’s 5th transaction in the United States.
  • This is LS Power Development’s 1st transaction in Ohio.

M&A Deal Summary
Date 2017-01-19
Target FirstEnergy - 4 Natural Gas Generating Plants
Sector Utilities
Buyer(s) LS Power Development
Sellers(s) FirstEnergy
Deal Type Divestiture
Deal Value 925M USD

Target

FirstEnergy - 4 Natural Gas Generating Plants

Akron, Ohio, United States
FirstEnergy Corp. - 4 Natural Gas Generating Plants includes Bath County Hydro (713 MW pumped-storage hydro) in Warm Springs, Va. (which represents the FirstEnergy competitive ownership interest in the power station), Springdale Generating Facility Units 1-5 (638 MW natural gas) in Springdale Township, Pa. Chambersburg Generating Facility Units 12-13 (88 MW natural gas) in Guildford Township, Pa., Gans Generating Facility Units 8-9 (88 MW natural gas) in Springhill Township, Pa., Hunlock Creek (45 MW natural gas) in Hunlock Creek, Pa.

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Buyer(S) 1

Buyer

LS Power Development

New York,, New York, United States

website

Category Company
Founded 1990
Sector Renewable Energy
DESCRIPTION

LS Power is an employee-owned, independent power company.We are a developer, owner, operator and investor in power generation and electric transmission infrastructure throughout the United States.We have developed, constructed, managed or acquired more than 32,000 MW of competitive power generation and 470 miles of transmission infrastructure.

DEAL STATS #
Overall 5 of 10
Sector (Utilities) 1 of 2
Type (Divestiture) 4 of 4
State (Ohio) 1 of 1
Country (United States) 5 of 10
Year (2017) 3 of 3
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-19 Allegheny Energy Supply

Greensburg, Pennsylvania, United States

Allegheny Energy Supply Co. LLC is a provider of renewable energy services in US.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-29 CPower Energy Management

Baltimore, Maryland, United States

CPower Energy Management is one of the largest demand response and energy management companies in North America. CPower has over 25 years of experience helping business customers implement customized demand-side management programs with core offerings that provide businesses with the ability to manage peak electricity demand, monetize energy assets, enhance grid reliability and meet their sustainability goals. CPower provides services nationwide across the U.S. to a large, blue-chip customer base of over 1,700 commercial & industrial customers.

Buy -

Seller(S) 1

SELLER

FirstEnergy

Akron, Ohio, United States

website

Category Company
Founded 1996
Sector Utilities
Employees12,335
Revenue 12.5B USD (2022)
DESCRIPTION

FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Headquartered in Akron, Ohio, FirstEnergy includes a investor-owned electric systems and a diverse generating fleet with a total capacity of nearly 18,000 megawatts. FirstEnergy was founded in 1996 and is based in Akron, Ohio.

DEAL STATS #
Overall 4 of 4
Sector (Utilities) 2 of 2
Type (Divestiture) 4 of 4
State (Ohio) 2 of 2
Country (United States) 4 of 4
Year (2017) 3 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-19 Allegheny Energy Supply

Greensburg, Pennsylvania, United States

Allegheny Energy Supply Co. LLC is a provider of renewable energy services in US.

Sell -
Mergr

Product

Company

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