LS Power Acquires 606-MW Texas Gas Plant from Constellation for $860M
LS Power agreed to buy the Brazos Valley Energy Center, a 606-MW natural gas-fired plant near Houston, Texas, from Constellation for $860 million. The sale fulfills a regulatory divestiture required by the U.S. Justice Department and Texas Attorney General to resolve antitrust concerns from Constellation’s acquisition of Calpine. The deal, expected to close in Q4 2026, expands LS Power’s ERCOT portfolio to about 14.1 GW nationally, driven by rising Texas electricity demand.
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LS Power to Acquire Brazos Valley Gas-Fired Power Plant from Constellation
LS Power has agreed to acquire the Brazos Valley gas-fired power plant from Constellation Energy. This transaction fulfills a regulatory divestiture commitment that was tied to Constellation's planned acquisition of Calpine in 2025. The deal is part of the conditions set by regulators to approve the larger merger between Constellation and Calpine. The specific terms of the acquisition were not disclosed in the brief announcement. The plant is located in Texas and is a natural gas-fired facility. This move allows Constellation to comply with antitrust or competition requirements while LS Power expands its generation portfolio.
LS Power to Acquire Brazos Valley Energy Center from Constellation for $860 Million
LS Power has reached a definitive agreement to purchase the Brazos Valley Energy Center, a 606MW natural gas-fired combined-cycle facility in Texas, from Constellation for $860 million. The sale is part of regulatory commitments tied to Constellation's earlier acquisition of Calpine and is the final asset required to be sold under those commitments. The transaction is pending approval from the US Department of Justice and is expected to close by the end of 2026. The addition will increase LS Power's generation portfolio in the ERCOT market, and following this and other pending deals, LS Power's national operating fleet is expected to reach around 14.1GW. LS Power CEO Paul Segal cited Texas' economic growth and rising electricity demand as drivers for the acquisition. Constellation separately reported a decline in Q2 2026 GAAP net income but an increase in adjusted operating earnings, and signed additional long-term nuclear power purchase agreements.
LS Power to acquire Brazos Valley Energy Center from Constellation for $860 million
LS Power has reached a definitive agreement to purchase the Brazos Valley Energy Center, a 606MW natural gas-fired combined-cycle facility in Texas, from Constellation for $860 million. The facility, previously known as the Jack Fusco Energy Center, is located near Houston within the ERCOT power market. The sale is part of regulatory commitments tied to Constellation's earlier acquisition of Calpine, and is the final asset required to be sold under those commitments. The transaction is pending approval from the US Department of Justice and is expected to close by the end of 2026. This acquisition will increase LS Power's generation portfolio in ERCOT, bringing its national operating fleet to approximately 14.1GW. LS Power CEO Paul Segal cited Texas' economic growth and rising electricity demand as drivers for the acquisition. Legal advisers included White & Case and Willkie Farr & Gallagher, with Houlihan Lokey and RBC Capital Markets providing financial advice.
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LS Power Acquiring 606-MW Texas Gas-Fired Plant From Constellation
LS Power, a New York-based energy infrastructure investor, announced a definitive agreement to acquire the Brazos Valley Energy Center, a 606-MW natural gas-fired combined-cycle power plant near Houston, Texas, from Constellation. The transaction, expected to close in Q4 2026 subject to regulatory approval, satisfies a divestiture commitment tied to Constellation's acquisition of Calpine. The U.S. Justice Department and Texas Attorney General had required the sale of six power plants to resolve antitrust concerns. LS Power CEO Paul Segal cited Texas' economic growth and rising electricity demand as drivers, noting that acquiring existing assets is faster than developing new projects. The deal expands LS Power's generation fleet in the ERCOT market, bringing its total U.S. operating capacity to approximately 14.1 GW after closing pending transactions. LS Power has developed or acquired 50,000 MW of generation since its founding in 1990.
LS Power Acquiring 606-MW Texas Gas-Fired Plant From Constellation
LS Power, a New York-based energy infrastructure investor, announced a definitive agreement to acquire the Brazos Valley Energy Center, a 606-MW natural gas-fired combined-cycle plant near Houston, Texas, from Constellation. The transaction, expected to close in Q4 2026 subject to regulatory approval, satisfies a regulatory divestiture commitment tied to Constellation's acquisition of Calpine. The U.S. Justice Department and Texas Attorney General had required divestiture of six power plants to resolve antitrust concerns. LS Power CEO Paul Segal stated the acquisition supports Texas' growing electricity demand and reflects the company's 'more of everything' approach. The deal expands LS Power's generation fleet in the ERCOT market, bringing its total U.S. operating fleet to about 14.1 GW after closing pending transactions. LS Power has developed or acquired 50,000 MW of generation since its founding in 1990.