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- LS Power to Acquire Algonquin Power's Renewable Energy Business
LS Power to Acquire Algonquin Power's Renewable Energy Business
Slice of Energy Team
August 12, 2024
Key Highlights:
LS Power acquires 3,000 MW of wind and solar assets from Algonquin Power.
8,000 MW development pipeline included in the acquisition.
Strategic expansion of LS Power's renewable energy portfolio across North America.
Transaction expected to close in Q4 2024 or Q1 2025 pending regulatory approvals.
Source (PR Newswire)
Notable Quote:
"This represents a significant strategic investment in and expansion of LS Power's renewable energy portfolio. 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."
Our Take:
The acquisition of Algonquin Power’s renewable energy business marks a pivotal move for LS Power as it significantly enhances their renewable energy capacity across North America. With the addition of over 3,000 MW of operating assets and a robust development pipeline, LS Power is well-positioned to lead in the energy transition and meet the increasing demand for clean energy solutions. This strategic expansion aligns perfectly with LS Power’s existing focus on renewable energy, energy storage, and flexible grid solutions, further solidifying their role as a key player in the North American energy infrastructure sector.