LS Power to Acquire Natural Gas Power Plant From Platinum Equity
810 MW gas plant join LS Power's fleet of assets that support the energy transition
NEW YORK, Jan. 16, 2024 /PRNewswire/ -- LS Power today announced that it has reached an agreement with an affiliate of Platinum Equity to acquire the Hunterstown natural gas-fired power plant in Gettysburg, Pennsylvania.
The 810-megawatt combined cycle gas-fired power generation facility is located in the PJM Interconnection, and the transaction is expected to close in Q2 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," Hanson said.
LS Power operates a more than 16,000 megawatt gas generation fleet that complements its multiple energy transition platforms focused on wind, hydro and solar power, as well as battery energy storage, demand response, microgrids, renewable fuels, electric transportation and transmission infrastructure.
"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. With the grid grappling with greater weather extremes and market volatility, a coherent path toward decarbonization embraces both rapid deployment of low-carbon energy resources and maintenance of sufficient natural gas generation to ensure continued energy security and reliability," Segal said. "This is LS Power's approach, as reflected in our portfolio and priorities."
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Comment
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Comment by Dan McKay on January 18, 2024 at 12:12pm
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Troy Jackson is just a lapdog for L S Power, and Neither one was going to settle for a measly $1.8 billion dollar project to move 1200 megawatts out of Aroostook County. They want a $6-to-8-billion-dollar project to move 4000 megawatts to Massachusetts, destroying rural Maine along the way and ultimately destroying all the economy north of Portland. These democrats are sick people who care less about the rural people of Maine. Massachusetts is not a trustworthy energy partner. They are happy to ruin Maine for their stupid climate change ideology. Maine, New Hampshire and Vermont are naturally alike in weather and populations and have common borders with Canada, a perfect energy trading partner.
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Comment by Art Brigades on January 18, 2024 at 11:02am
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Maybe they can get Troy Jackson to help them build a power line from Pennsylvania to Boston.
Maine as Third World Country:
CMP Transmission Rate Skyrockets 19.6% Due to Wind Power
Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.
Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT
******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********
(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/
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Hannah Pingree on the Maine expedited wind law
Hannah Pingree - Director of Maine's Office of Innovation and the Future
"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."
https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/
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