Energy infrastructure developer LS Power has agreed to buy an 810 MW combined-cycle natural gas facility from an affiliate of Platinum Equity to support the region’s grid stability. 

The transaction, financial terms for which were not disclosed, is for the Hunterstown Combined Cycle Generating Station in Gettysburg. Hunterstown serves the PJM Interconnection electric grid market, which covers 13 states and Washington, DC. The transaction is set to be completed this year.

“In order to decarbonize the electric grid in a reliable, affordable and responsible manner, we will need to continue utilizing efficient, flexible gas-fired generation…” said LS CEO Paul Segal. “This is particularly critical at a time when demand for electricity is growing at the fastest rate in...