M&A Deal Summary

Capital Power Acquires Rolling Hills Generation

On April 14, 2025, Capital Power acquired utilities company Rolling Hills Generation from LS Power Equity Advisors

Acquisition Highlights
  • This is Capital Power’s 5th transaction in the Utilities sector.
  • This is Capital Power’s 5th transaction in the United States.
  • This is Capital Power’s 1st transaction in Ohio.

M&A Deal Summary

Date 2025-04-14
Target Rolling Hills Generation
Sector Utilities
Buyer(s) Capital Power
Sellers(s) LS Power Equity Advisors
Deal Type Divestiture

Target

Rolling Hills Generation

Wilkesville, Ohio, United States
Rolling Hills Generating is a simple-cycle plant that provides electric generating capacity to the PJM Interconnection market during periods of peak demand. Rolling Hills Generating was founded in 2003 and is based in Wilkesville, Ohio.

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Buyer(S) 1

Buyer

Capital Power

Edmonton, Alberta, Canada

Category Company
Founded 1891
Sector Renewable Energy
Employees741
Revenue 3.8B CAD (2024)
DESCRIPTION

Capital Power is a growth-oriented North American power producer. The company develops, acquires, operates and optimizes power generation from a variety of energy sources. Capital Power was incorporated in 1891 and is based in Edmonton, Alberta.


DEAL STATS #
Overall 7 of 7
Sector: Utilities M&A 5 of 5
Type: Divestiture M&A Deals 2 of 2
State: Ohio M&A 1 of 1
Country: United States M&A 5 of 5
Year: 2025 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-14 Hummel

Shamokin Dam, Pennsylvania, United States

Hummel is a a 1,124 MW combined cycle flexible generation facility in Shamokin Dam, Pennsylvania.

Buy -

Seller(S) 1

SELLER

LS Power Equity Advisors

Investor Investor Investor Investor Investor


Category Infrastructure
Founded 2005
PE ASSETS 13.3B USD
Size Mega
Type Sector Focused
DESCRIPTION

LS Power Equity Advisors LLC is the private equity affiliate of LS Power Group, a developer, owner, operator and investor in power generation and electric transmission infrastructure throughout the United States. LS Power Equity Advisors looks to acquire operating power generation assets and utilize its development, operations, power marketing and financial expertise to improve their commercial and physical operations. LS Power Equity Advisors was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 3 of 3
Sector: Utilities M&A 3 of 3
Type: Divestiture M&A Deals 1 of 1
State: Ohio M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2025 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-14 Hummel

Shamokin Dam, Pennsylvania, United States

Hummel is a a 1,124 MW combined cycle flexible generation facility in Shamokin Dam, Pennsylvania.

Sell -