LS Power has entered into a definitive agreement to acquire the Brazos Valley Energy Center, a 606 MW natural gas-fired combined-cycle turbine (CCGT) facility near Houston, Texas, from Constellation Energy. This acquisition expands LS Power’s generation fleet within ERCOT, and upon closing, their national operating fleet will reach approximately 14.1 GW.

The transaction fulfills a regulatory divestiture requirement linked to Constellation's 2025 acquisition of Calpine. This marks another significant deal between LS Power and Constellation, following LS Power's earlier agreement to acquire a 4.4 GW portfolio of five gas-fired generation assets in PJM for approximately $5 billion.

Paul Segal, CEO of LS Power, highlighted Texas's economic growth and increasing electricity demand, noting the time required to develop new generation projects. The deal is anticipated to close in Q4, pending regulatory approval. Houlihan Lokey and RBC Capital Markets advised LS Power on financial matters, with legal counsel provided by White & Case and Willkie Farr & Gallagher.