Willkie Farr & Gallagher LLP
03/19/2026 | News release | Distributed by Public on 03/19/2026 15:25
Willkie Advises LS Power on Acquisition of Constellation Generation Portfolio
Willkie Advises LS Power on Acquisition of Constellation Generation Portfolio
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March 19, 2026
Willkie is advising LS Power Equity Advisors, LLC on its acquisition of a portfolio of generation assets in PJM from Constellation Energy Corporation (Nasdaq: CEG).
On March 18, Constellation and LS Power announced an agreement under which LS Power will acquire approximately 4.4 gigawatts of predominantly natural gas-fired generation capacity located in Delaware and Pennsylvania, including the Bethlehem, York 1, York 2, Hay Road and Edge Moor facilities. The transaction is valued at $5 billion before closing adjustments.
The proposed sale follows Constellation's acquisition of Calpine Corporation and largely fulfills divestitures required by the U.S. Department of Justice and the Federal Energy Regulatory Commission.
The Willkie team is led by partner Robert Lepore.
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