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FERC green-lights LS Power sale of 2 gas-fired plants

A private fund managed by LS Power Equity Advisors LLC received the Federal Energy Regulatory Commission approval to sell two natural gas-fired, combined-cycle power plants to an investment vehicle managed by Argo Infrastructure Partners LP.

The transaction involves the 525-MW (summer rating) Carville Energy Center, located in Saint Gabriel, La., within the Midcontinent ISO market, and the 1,086-MW (summer rating) Oneta Energy Center, located in Broken Arrow, Okla., within the Southwest Power Pool market, according to an Oct. 7 FERC order.

The Carville plant is sells its output to Entergy Corp. subsidiaries Entergy Texas Inc. and Entergy Louisiana LLC. The Oneta facility sells portions of its output to American Electric Power Co. Inc. subsidiary Public Service Co. of Oklahoma and Western Farmers Electric Co-op, according to S&P Global Market Intelligence data.

Financial terms of the deal were not disclosed. The deal is expected to close in the fourth quarter of 2019.

New York-based LS Power Equity Advisors is the private equity and investment management arm of LS Power Group. (FERC docket EC19-126)