LS Power Equity Advisors, through a private fund it manages, has entered into an agreement with East Alabama Generating, LLC, a subsidiary of Harbert Power Fund V, LLC, to sell Calhoun Energy Center, subject to regulatory approvals.
LS Power Equity Advisors originally acquired the project from a subsidiary of NextEra Energy Resources in 2011 along with three other assets.
The simple-cycle combustion turbine facility is located in Bynum, Alabama. It operates as a "peaking" facility which means that it operates primarily during periods of high electricity demand.
The power plant is designed with four gas-fired turbines with 187 MW each, which sums a total capacity of 748 MW.