LS Power on Aug. 6 announced it has entered into a definitive agreement with Constellation to acquire the Brazos Valley Energy Center, a 606-megawatt natural gas-fired combined-cycle facility located outside Houston, Texas.
“Texas is experiencing exceptional economic growth as its pro-business policies continue to attract companies, investment and jobs from across the country,” said Paul Segal, CEO of LS Power, said in a news release. “That growth is driving rapidly increasing demand for electricity, while new generation projects can take years to develop and bring online. Acquiring and optimizing proven assets is one of the fastest and most cost-effective ways to meet that need, and natural gas is well-positioned to provide the reliable, around-the-clock capacity the market requires. This acquisition reflects our ‘more of everything’ approach and our commitment to delivering the affordable, reliable power needed to sustain Texas’ growth.”
The transaction satisfies a regulatory divestiture commitment tied to Constellation’s acquisition of Calpine, with whom LS Power has had several bilateral transactions to date.
Earlier this year in March, LS Power announced a bilateral agreement to acquire a 4,353 MW portfolio of five gas-fired generation assets in PJM from Constellation, "underscoring the firm’s position as a trusted industry partner with a track record of navigating complex transactions with speed and discipline," LS Power said.
The acquisition expands LS Power’s generation fleet in ERCOT, one of the fastest growing power markets.
Upon closing of its pending transactions with Constellation, the firm’s national operating fleet will total approximately 14,100 MW.
Beyond this transaction, the firm continues to advance a pipeline of uprates to existing facilities and greenfield projects across the United States.
The transaction is expected to close in Q4 2026, subject to regulatory approval.
