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LS Power to sell 2 natural gas-fired plants to Argo Infrastructure

A private fund managed by LS Power Equity Advisors LLC agreed to sell two natural gas-fired power plants to an investment vehicle managed by Argo Infrastructure Partners LP, for an undisclosed amount.

The New York-based private equity and investment management arm of LS Power Group acquired the 516-MW Carville Energy Center, in Iberville County, La., and the 1,127-MW Oneta Energy Center, in Wagoner County, Okla., among four other assets, from Calpine in 2017, it said in an Aug. 15 press release.

The Carville facility, which began operating in 2003, is located in the Midcontinent ISO balancing area. Its output is currently under contract to Entergy Corp. subsidiary Entergy Texas Inc. Oneta, which began operating in 2002, is interconnected to the Southwest Power Pool grid. Portions of its output are sold under contract to American Electric Power Co. Inc. subsidiary Public Service Co. of Oklahoma and Western Farmers Electric Cooperative.

The sale is subject to customary regulatory approvals and is expected to close in the fourth quarter of 2019.