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An affiliate of Platinum Equity has sold the 810 MW combined-cycle natural gas-fired power generation facility in Gettysburg, PA to LS Power.
LS Power has reached an agreement with an affiliate of Platinum Equity to purchase the Hunterstown natural gas-fired power plant in Gettysburg, PA. The plant is an 810 MW combined-cycle power generation facility located in the PJM interconnection. This transaction is expected to close in Q2 of 2024.
"Hunterstown will join LS Power's fleet of flexible gas fired generation, a portfolio of assets with the dynamic ramping attributes critical to a successful clean energy transition," said Nathan Hanson, President of LS Power Generation. "Our flexible generation assets provide firm, low carbon and cost-effective supply of reliable electricity as well as providing a vital and complementary service in the energy transition, ensuring the lights stay on when renewable resources are unavailable due to their intermittency, or when extreme weather events destabilize the grid."
LS Power’s gas generation fleet is a 16,000 MW portfolio that complements multiple energy transition platforms focused on wind, hydro, and solar power. In addition to these platforms, LS Power supports battery energy storage, demand response, microgrids, renewable fuels, electric transportation, and transmission infrastructure. The gas generation fleet is spread across 12 states and primarily consists of peaking plants and combined-cycle facilities.
"In order to decarbonize the electric grid in a reliable, affordable and responsible manner, we will need to continue utilizing 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, LS Power CEO. "This is particularly critical at a time when demand for electricity is growing at the fastest rate in decades – driven by electrification, the proliferation of data centers and a manufacturing renaissance, amidst a background of coal plants retiring and renewables coming online only gradually.”