LSP Energy Takes In $286M From Auction Of Miss. Plant

Law360, Wilmington (August 15, 2012, 11:22 PM EDT) -- Bankrupt power plant operator LSP Energy LP sold its primary asset — a Mississippi natural-gas fired generation plant — at auction Monday, the winning offer of $286 million coming from the outfit that had served as a $249 million stalking horse before a judge scotched the deal.

Energy cooperative South Mississippi Electric Power Association picked up the Batesville, Miss., plant with a top bid of $285.88 million, according to a company spokeswoman.

“One of our board's goals is to increase our own generation, and this just...
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