The US energy company LS Power has acquired Algonquin Power & Utilities Corp.'s renewable energy business, which includes 44 operating wind and solar projects totalling 3 GW and 8 GW of pipeline projects in various stages of development. LS Power
LS Power will distribute the newly acquired solar and wind capacities located across the US and Canada to a new subsidiary, named Clearlight Energy, which will acquire and manage the 3 GW operational fleet along with 1.8 GW of Algonquin's project pipeline. REV Renewables, a subsidiary of LS Power, will acquire the remaining 6.2 GW of development projects in the US. The deal has successfully acquired all the regulatory approvals and customary closing conditions.
With this, LS Power adds to its existing portfolio of companies and projects devoted to the energy transition and grid reliability, including REV Renewables, CPower Energy, EVgo, Lightning Power, Rise Light & Power, and Waste to Renewable Fuel initiatives (23 GW).
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