LS Power Agrees to Acquire Large Scale Renewable Energy Business from Algonquin Power & Utilities Corp.
LS Power has agreed to acquire Algonquin Power & Utilities Corp.'s (AQN) renewable energy business, significantly expanding its renewable portfolio. The acquisition includes 44 operating assets with over 3,000 MW capacity and an 8,000 MW project pipeline across the US and Canada. The deal, expected to close in Q4 2024 or Q1 2025, will complement LS Power's existing 19,000 MW fleet of renewable and flexible energy projects.
The acquired assets are strategically located across major US markets (NYISO, MISO, PJM, ERCOT, CAISO) and Canada. This move aligns with LS Power's focus on meeting rising electric demand and advancing the energy transition through its various platforms, including REV Renewables, EVgo, CPower Energy Management, and others.
LS Power ha deciso di acquisire il business delle energie rinnovabili di Algonquin Power & Utilities Corp. (AQN), ampliando significativamente il suo portafoglio di energie rinnovabili. L'acquisizione include 44 beni operativi con oltre 3.000 MW di capacità e un progetto in pipeline di 8.000 MW negli Stati Uniti e in Canada. L'accordo, previsto per chiudere nel quarto trimestre del 2024 o nel primo trimestre del 2025, completerà la flotta esistente di LS Power, che conta 19.000 MW di progetti energetici rinnovabili e flessibili.
Gli attivi acquisiti sono strategicamentem situati nei principali mercati statunitensi (NYISO, MISO, PJM, ERCOT, CAISO) e in Canada. Questo passo è in linea con l'obiettivo di LS Power di soddisfare la crescente domanda di energia elettrica e di promuovere la transizione energetica attraverso le sue varie piattaforme, tra cui REV Renewables, EVgo, CPower Energy Management, e altre.
LS Power ha acordado adquirir el negocio de energía renovable de Algonquin Power & Utilities Corp. (AQN), ampliando significativamente su cartera de energías renovables. La adquisición incluye 44 activos en operación con más de 3,000 MW de capacidad y una cartera de proyectos de 8,000 MW en los EE. UU. y Canadá. Se espera que el acuerdo se cierre en el cuarto trimestre de 2024 o en el primer trimestre de 2025, complementando la flota existente de LS Power de 19,000 MW de proyectos de energía renovable y flexible.
Los activos adquiridos están estratégicamente ubicados en los principales mercados estadounidenses (NYISO, MISO, PJM, ERCOT, CAISO) y en Canadá. Este movimiento se alinea con el enfoque de LS Power en satisfacer la creciente demanda eléctrica y avanzar en la transición energética a través de sus diversas plataformas, que incluyen REV Renewables, EVgo, CPower Energy Management y otras.
LS Power는 Algonquin Power & Utilities Corp. (AQN)의 재생 가능 에너지 사업을 인수하기로 합의하여 재생 에너지 포트폴리오를 크게 확장합니다. 인수에는 3,000 MW 이상의 용량을 가진 44개의 운영 자산과 8,000 MW의 프로젝트 파이프라인이 미국과 캐나다 전역에 포함됩니다. 이 거래는 2024년 4분기 또는 2025년 1분기에 종료될 것으로 예상되며, LS Power의 기존 19,000 MW 규모의 재생 가능 및 유연한 에너지 프로젝트를 보완하게 됩니다.
인수된 자산은 주요 미국 시장(NYISO, MISO, PJM, ERCOT, CAISO) 및 캐나다 전역에 전략적으로 위치해 있습니다. 이러한 움직임은 LS Power의 전기 수요 증가에 대응하고 REV Renewables, EVgo, CPower Energy Management 등 여러 플랫폼을 통해 에너지 전환을 추진하는 데 초점을 맞추고 있습니다.
LS Power a accepté d'acquérir l'activité d'énergie renouvelable d'Algonquin Power & Utilities Corp. (AQN), élargissant ainsi considérablement son portefeuille d'énergies renouvelables. L'acquisition comprend 44 actifs opérationnels avec une capacité de plus de 3 000 MW et un pipeline de projets de 8 000 MW aux États-Unis et au Canada. L'accord, prévu pour être finalisé au quatrième trimestre 2024 ou au premier trimestre 2025, viendra compléter la flotte de 19 000 MW de projets d'énergie renouvelable et flexible déjà existante de LS Power.
Les actifs acquis sont situés stratégiquement dans les principaux marchés américains (NYISO, MISO, PJM, ERCOT, CAISO) ainsi qu'au Canada. Ce mouvement est en ligne avec l'objectif de LS Power de répondre à la demande croissante d'électricité et de favoriser la transition énergétique à travers ses différentes plateformes, notamment REV Renewables, EVgo, CPower Energy Management et d'autres.
LS Power hat zugestimmt, das Geschäft mit erneuerbaren Energien von Algonquin Power & Utilities Corp. (AQN) zu übernehmen und damit sein Portfolio im Bereich erneuerbare Energien erheblich auszubauen. Die Übernahme umfasst 44 Betriebsanlagen mit einer Gesamtkapazität von über 3.000 MW sowie eine Projektpipeline von 8.000 MW in den USA und Kanada. Der Abschluss der Vereinbarung wird für das vierte Quartal 2024 oder das erste Quartal 2025 erwartet und wird die bestehende Flotte von 19.000 MW an erneuerbaren und flexiblen Energieprojekten von LS Power ergänzen.
Die erworbenen Vermögenswerte sind strategisch in wichtigen US-Märkten (NYISO, MISO, PJM, ERCOT, CAISO) und in Kanada verteilt. Dieser Schritt stimmt mit dem Fokus von LS Power überein, die steigende Elektrizitätsnachfrage zu decken und den Energiewandel durch verschiedene Plattformen wie REV Renewables, EVgo, CPower Energy Management und andere voranzutreiben.
- Acquisition of 44 operating renewable assets with over 3,000 MW capacity
- Addition of 8,000 MW project pipeline in various stages of development
- Strategic expansion into key US energy markets and Canada
- Complementary fit with LS Power's existing 19,000 MW energy portfolio
- Strengthens LS Power's position in the renewable energy sector
- None.
Insights
This acquisition marks a significant strategic move for LS Power, substantially expanding its renewable energy portfolio. The deal, involving
While financial terms aren't disclosed, this acquisition likely represents a substantial investment, given the scale of assets involved. The transaction aligns with the broader industry trend of consolidation in the renewable energy sector, driven by the need for scale and efficiency. For investors, this move signals LS Power's commitment to capitalizing on the growing demand for clean energy and could potentially lead to increased revenue streams and market share in the long term.
This acquisition is a strategic response to the evolving energy landscape. With rising electric demand and an accelerating energy transition, LS Power is positioning itself at the forefront of these trends. The addition of
The diverse mix of wind, solar, battery storage and renewable natural gas projects in the pipeline is particularly noteworthy. This technology diversification strategy helps mitigate risks associated with any single renewable source and allows LS Power to adapt to regional market needs and policy changes. The expansion also enhances LS Power's ability to provide grid stability services, which will become increasingly valuable as the proportion of intermittent renewable energy on the grid grows.
This acquisition demonstrates LS Power's vertical integration strategy within the energy transition sector. By adding Algonquin's renewable assets to its existing portfolio of energy transition platforms, LS Power is creating a comprehensive ecosystem that spans generation, transmission, distribution and end-user services. This holistic approach positions LS Power to capture value across the entire energy value chain.
The synergies between the newly acquired assets and LS Power's existing platforms (like REV Renewables, EVgo and CPower Energy Management) could lead to operational efficiencies and new business opportunities. For instance, the integration of large-scale renewables with battery storage and virtual power plant services could enable more sophisticated energy management and grid services offerings. This strategic move not only expands LS Power's market presence but also enhances its competitive positioning in the rapidly evolving energy landscape.
The Renewables Business is comprised largely of wind and solar assets located throughout
Approximately 2,700 MW of the portfolio's assets are located in the
"This represents a significant strategic investment in and expansion of LS Power's renewable energy portfolio," said Paul Segal, CEO of LS Power. "This business complements our existing fleet of more than 19,000 MW of top-performing renewable, energy storage, flexible gas and renewable fuels projects. We believe this platform will play a significant role in meeting the challenges of rising electric demand and advancing the energy transition."
The Renewables Business will join LS Power's existing portfolio of energy transition platforms, including:
- REV Renewables, a leader in renewable generation and energy storage
- EVgo, a fast-charging network for electric vehicles, powered by
100% renewable energy - CPower Energy Management, a leading, national distributed energy resource monetization and virtual power plant services business
- Rise Light & Power,
New York City's largest generator and developer of clean energy infrastructure including battery storage and offshore wind interconnection - Primary Renewable Fuels, a leading waste-to-renewable natural gas development and operating platform
- Endurant Energy, a provider of distributed energy infrastructure
- LS Power Transmission, a leading private transmission owner and developer with 780+ miles of high-voltage transmission lines operating and 350+ miles and multiple substations under development or construction
- LS Power Generation, a large scale dispatchable generation platform providing energy, reliability and flexibility to the grid
The transaction is expected to close in Q4 2024 or Q1 2025 and is subject to the satisfaction of customary closing conditions, including the approval of the
Milbank LLP is serving as legal advisor and Scotiabank and BMO Capital Markets Corp. are serving as financial advisors to LS Power on the acquisition.
About LS Power
Founded in 1990, LS Power is a premier development, investment, and operating company focused on the North American power and energy infrastructure sector, with leading platforms across generation, transmission and energy transition solutions. Since inception, LS Power has developed or acquired 47,000 MW of power generation, including utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired facilities. Additionally, LS Power Grid has built 780+ miles of high-voltage transmission, with 350+ miles and multiple grid infrastructure projects currently under construction or development. LS Power actively invests in and scales businesses that are accelerating the energy transition, including electric vehicle charging, demand response, distributed energy resources, renewable fuels and other essential energy infrastructure. Over the years, LS Power has raised
About Algonquin Power & Utilities Corp. and Liberty
Algonquin Power & Utilities Corp., parent company of Liberty, is a diversified international generation, transmission, and distribution utility with approximately
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SOURCE LS Power
FAQ
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