Equinor has agreed to acquire an interest in the Lackawanna Energy Center, a 1,483-megawatt gas-fired combined-cycle power plant in Pennsylvania.
Lackawanna was developed by Invenergy, North America’s largest privately held developer, owner and operator of power infrastructure. Under the definitive agreement, Equinor will acquire 87.71 percent of the class A shares in Lackawanna for $940 million, subject to a potential purchase price reduction at closing of the transaction. The remainder of the class A shares and 100 percent of the class B shares are owned by Invenergy AMPCI Thermal Power.
Invenergy will continue managing and operating Lackawanna, while Equinor and Invenergy will together explore additional collaboration opportunities that leverage Invenergy’s long-standing operating capabilities and position in the existing PJM Interconnection power market.
Lackawanna is among the largest, most efficient gas-fired power plants in the PJM power market — th
