- The deal satisfies a regulatory divestiture tied to Constellation’s 2025 acquisition of Calpine;
- Formerly known as the Jack Fusco Energy Center, the Brazos Valley CCGT power plant expands LS Power’s generation fleet in ERCOT. Upon closing, the investor’s national operating fleet will total approximately 14.1GW.
LS Power, a power and energy infrastructure investor and asset owner, announced a definitive agreement to acquire the Brazos Valley Energy Center) a 606 MW natural gas-fired combined-cycle turbine (CCGT) facility located outside Houston, Texas, from Constellation Energy.
Formerly known as the Jack Fusco Energy Center, the CCGT power plant expands LS Power’s generation fleet in ERCOT. Upon closing, the investor’s national operating fleet will total approximately 14.1GW.
The transaction satisfies a regulatory divestiture commitment tied to Constellation’s 2025 acquisition of Calpine for more than $26 billion, with whom LS Power has had several bilateral transactions to date.
Earlier this year, LS Power announced an agreement to acquire a 4.4GW portfolio of five gas-fired generation assets in PJM from Constellation for about $5 billion, underscoring the firm’s position as a trusted industry partner with a track record of navigating complex transactions with speed and discipline.
“Texas is experiencing exceptional economic growth as its pro-business policies continue to attract companies, investment and jobs from across the country,” Paul Segal, CEO of LS Power, said in a statement. “That growth is driving rapidly increasing demand for electricity, while new generation projects can take years to develop and bring online,” Segal added.
The deal is expected to close in Q4, subject to regulatory approval.
Houlihan Lokey and RBC Capital Markets served as financial advisers to LS Power, with legal advisers White & Case and Willkie Farr & Gallagher.