M&A Deal Summary

LS Power Development Acquires Calpine Six Southeast Power Plants

On July 3, 2014, LS Power Development acquired renewable energy company Calpine Six Southeast Power Plants from Calpine for 1.6B USD

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

M&A Deal Summary

Date 2014-07-03
Target Calpine Six Southeast Power Plants
Sector Renewable Energy
Buyer(s) LS Power Development
Sellers(s) Calpine
Deal Type Divestiture
Deal Value 1.6B USD

Target

Calpine Six Southeast Power Plants

United States
Calpine Six Southeast Power Plants, comprises 3,498 MW of combined-cycle generation capacity in Oklahoma, Louisiana, Alabama, Florida and South Carolina.

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Buyer(S) 1

Buyer

LS Power Development

New York,, New York, United States

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 2 of 11
Sector (Renewable Energy) 1 of 4
Type (Divestiture) 1 of 5
Country (United States) 2 of 10
Year (2014) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-31 Columbia Solar Energy 19 MW PV

United States

Sell -
FOLLOWING 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 -

Seller(S) 1

SELLER

Calpine

Houston, Texas, United States

Category Company
Founded 1984
Sector Utilities
Employees2,209
Revenue 6.5B USD (2015)
DESCRIPTION

Calpine Corporation is America’s largest generator of electricity from natural gas and geothermal resources with operations in competitive power markets. Company fleet of 80 power plants in operation or under construction represents approximately 26,000 megawatts of generation capacity. Through wholesale power operations and retail businesses Calpine Energy Solutions and Champion Energy, Company serve customers in 25 states, Canada and Mexico. Calpine clean, efficient, modern and flexible fleet uses advanced technologies to generate power in a low-carbon and environmentally responsible manner. Company are uniquely positioned to benefit from the secular trends affecting our industry, including the abundant and affordable supply of clean natural gas, environmental regulation, aging power generation infrastructure and the increasing need for dispatchable power plants to successfully integrate intermittent renewables into the grid.


DEAL STATS #
Overall 11 of 13
Sector (Renewable Energy) 6 of 8
Type (Divestiture) 9 of 11
Country (United States) 10 of 12
Year (2014) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-27 Guadalupe Power Plant

Guadalupe County, Texas, United States

Guadalupe Power Plant, a natural gas-fired, combined-cycle power plant located in Guadalupe County, 30 miles northeast of San Antonio, Texas, in ERCOT’s south zone. The plant which has a nameplate generating capacity of 1,050 megawatts.

Buy $625M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-07 Exelon -Fore River Energy Center

North Weymouth, Massachusetts, United States

Exelon - Fore River Energy Center natural gas-fired, combined-cycle power plant, which has a nameplate generating capacity of 809 megawatts.

Buy $530M