Associated tags: Global warming potential, EVgo, Energy transition, Wind, Renewable energy, NRG Energy, Fuel
Locations: NEW YORK, US, CALIFORNIA, MAINE, MILBANK, PENNSYLVANIA, HUNTERSTOWN
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Southwestern United States SWIP-North will also extend to Idaho the benefits of transmission lines developed earlier by LS Power that have served Nevada and the California Independent System Operator ("CAISO").
Key Points:
- SWIP-North will also extend to Idaho the benefits of transmission lines developed earlier by LS Power that have served Nevada and the California Independent System Operator ("CAISO").
- The concept of an inter-regional transmission project spanning multiple states originated in the 1980s, with LS Power acquiring rights to the project in 2005.
- "Enhancing grid reliability and providing access to clean energy resources are top priorities for LS Power.
- In December 2023, GBT was selected as part of CAISO's 2022-2023 Transmission Plan to develop, permit, finance, construct, own, operate and maintain the SWIP-North Project.
Retrieved on:
Tuesday, January 16, 2024
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Renewable energy NEW YORK, Jan. 16, 2024 /PRNewswire/ -- LS Power today announced that it has reached an agreement with an affiliate of Platinum Equity to acquire the Hunterstown natural gas-fired power plant in Gettysburg, Pennsylvania.
Key Points:
- NEW YORK, Jan. 16, 2024 /PRNewswire/ -- LS Power today announced that it has reached an agreement with an affiliate of Platinum Equity to acquire the Hunterstown natural gas-fired power plant in Gettysburg, Pennsylvania.
- The 810-megawatt combined cycle gas-fired power generation facility is located in the PJM Interconnection, and the transaction is expected to close in Q2 2024.
- "Hunterstown will join LS Power's fleet of flexible gas-fired generation, a portfolio of assets with the dynamic ramping attributes critical to a successful clean energy transition," said Nathan Hanson, President of LS Power Generation.
- LS Power's gas generation fleet spans 12 states and consists primarily of peaking plants along with combined cycle facilities.
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Thursday, November 16, 2023
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Green SAN DIEGO and NEW YORK, Nov. 16, 2023 /PRNewswire/ -- Monarch Energy, a California-based green hydrogen project developer, and LS Power, a New York-headquartered North American Power and Energy Infrastructure manager, have formed a partnership to deploy a portfolio of green hydrogen projects throughout the United States. LS Power plans to invest up to $400 million into projects developed by Monarch as part of the newly established Clean Hydrogen Fuels, LLC platform.
Key Points:
- Newly Formed Clean Hydrogen Fuels, LLC will develop green hydrogen projects across the U.S.
SAN DIEGO and NEW YORK, Nov. 16, 2023 /PRNewswire/ -- Monarch Energy, a California-based green hydrogen project developer, and LS Power, a New York-headquartered North American Power and Energy Infrastructure manager, have formed a partnership to deploy a portfolio of green hydrogen projects throughout the United States.
- LS Power plans to invest up to $400 million into projects developed by Monarch as part of the newly established Clean Hydrogen Fuels, LLC platform.
- LS Power provided $25 million in preferred equity financing for Monarch Energy and will hold a seat on Monarch's Board of Directors.
- Monarch Energy is pursuing large-scale electrolyzer projects to deliver cost-competitive green hydrogen to customers in the refining, chemicals, fertilizer, long-haul transport, and other hard-to-decarbonize industries.
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Wednesday, August 16, 2023
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Public utility SPRINGFIELD, Ill., Aug. 16, 2023 /PRNewswire/ -- LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector, today announced its support for Illinois Governor J.B. Pritzker's landmark veto of Right of First Refusal (ROFR) legislation that would limit transmission competition and unnecessarily increase the cost of the clean energy transition.
Key Points:
- "Allowing competition for ownership of new transmission projects is essential to advance the energy transition in a cost-effective manner."
- Governor Pritzker's veto is the first such executive action in the nation to stop an anti-competitive energy transmission ROFR bill.
- In doing so, Governor Pritzker preserves a competitive backdrop for the development and ownership of additional energy transmission projects in Illinois.
- While today's action is the first veto of ROFR legislation, Illinois joins other states in rejecting monopoly transmission ownership.
The study is a conservative assessment as not all the projects' benefits were included in its analysis.
Key Points:
- The study is a conservative assessment as not all the projects' benefits were included in its analysis.
- "The Daymark study shows that these projects will provide significant tangible benefits in terms of lower energy costs for Maine consumers," said Paul Thessen, President of LS Power Development.
- "Lower energy costs, coupled with the significant investment and inherent economic and environmental benefits, makes these projects huge wins for the State of Maine."
- Further, the LS Power Aroostook Renewable Gateway and the King Pine Wind farm will help create hundreds of jobs, attract billions of dollars of new investment, and deliver significant new property taxes along their proposed routes.
CHESTERFIELD, Mo., June 26, 2023 /PRNewswire/ -- LS Power Grid Maine, a subsidiary of LS Power, has received bipartisan legislative approval for Aroostook Renewable Gateway, an electric transmission line to interconnect renewable energy resources in northern Maine with the electric grid operated by the New England independent system operator (ISO-NE).
Key Points:
- CHESTERFIELD, Mo., June 26, 2023 /PRNewswire/ -- LS Power Grid Maine, a subsidiary of LS Power, has received bipartisan legislative approval for Aroostook Renewable Gateway, an electric transmission line to interconnect renewable energy resources in northern Maine with the electric grid operated by the New England independent system operator (ISO-NE).
- "LS Power is grateful for the leadership of Senate President Troy Jackson and Senate Republican Leader Trey Stewart for sponsoring L.D.
- The Aroostook Renewable Gateway will allow us to deliver cost effective, renewable energy from Aroostook County to Maine and the regional power grid," said Paul Thessen, President of LS Power Development.
- The LS Power Grid Maine project calls for building more than 100 miles of new 345 kV transmission lines and multiple substations to deliver new renewable energy from Aroostook County.
NEW YORK, May 8, 2023 /PRNewswire/ -- LS Power today announced it has reached an agreement with Brazos Electric Power Cooperative to acquire 2,145 megawatts of natural gas generation in the ERCOT North region of Texas through a special purpose affiliate. The portfolio features dual-fuel capability, meaningful on-site fuel oil storage and firm gas transport and storage arrangements.
Key Points:
- NEW YORK, May 8, 2023 /PRNewswire/ -- LS Power today announced it has reached an agreement with Brazos Electric Power Cooperative to acquire 2,145 megawatts of natural gas generation in the ERCOT North region of Texas through a special purpose affiliate.
- The portfolio features dual-fuel capability, meaningful on-site fuel oil storage and firm gas transport and storage arrangements.
- "We are excited to add these three projects to our generation portfolio as we continue to evaluate additional expansion opportunities in Texas," said Nathan Hanson, President of LS Power Generation.
- "These three generation projects we are acquiring provide critical, reliable energy supply to an ERCOT market that is experiencing continued load growth.
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Wednesday, January 25, 2023
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CAISO ST. LOUIS, Jan. 25, 2023 /PRNewswire/ -- The California Independent System Operator ("CAISO") announced on January 23 that it has selected LS Power Grid California, LLC to finance, construct, own, operate and maintain the Collinsville 500/230 kV Substation Project ("The Collinsville Project") and the Manning 500/230 kV Substation Project ("The Manning Project").
Key Points:
- "LS Power is honored to be selected for these important projects that will improve the reliability of the California grid and enable new renewable generation," said Paul Thessen, President of LS Power Development.
- "These projects align with LS Power's goals to be on the forefront of the transition to clean energy."
- 1000 and selected LS Power's proposals from a total of four qualified proposals per project.
- "We appreciate CAISO's thorough evaluation and recognition of the long-term value and certainty that can be provided through competitive transmission processes."
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Tuesday, November 15, 2022
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CAISO NEW YORK, Nov. 15, 2022 /PRNewswire/ -- LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector, today announced it has reached an agreement to acquire 42 run-of-river hydro facilities across 11 states, totaling 334 MW, from Hull Street Energy. The acquisition is expected to close by the end of Q1 2023, subject to the satisfaction of certain closing conditions and regulatory approvals.
Key Points:
- "With the addition of this large, geographically diverse, run-of-river hydroelectric portfolio, combined with our existing energy transition platforms, LS Power continues to lead the effort to develop a cleaner, more reliable, and more affordable energy ecosystem," said LS Power CEO Paul Segal.
- LS Power was represented by Milbank LLP as legal counsel with BMO Capital Markets Corp. and Scotiabank serving as financial advisors.
- In addition, LS Power developed and is operating ~680 miles of high-voltage transmission, with 100+ miles and multiple substations under construction.
- Across these efforts, LS Power has raised $49 billion in debt and equity financing to support North American infrastructure.
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Wednesday, October 26, 2022
CHESTERFIELD, Mo., Oct. 26, 2022 /PRNewswire/ -- Today, the Maine Public Utilities Commission ("Commission") selected LS Power Grid Maine, LLC to build a new transmission solution that will deliver renewable energy from Aroostook County, Maine into the existing New England grid.
Key Points:
- CHESTERFIELD, Mo., Oct. 26, 2022 /PRNewswire/ -- Today, the Maine Public Utilities Commission ("Commission") selected LS Power Grid Maine, LLC to build a new transmission solution that will deliver renewable energy from Aroostook County, Maine into the existing New England grid.
- "LS Power is honored that the state of Maine has placed its trust in us to deliver this critical infrastructure, which will deliver clean energy, while also improving the reliability and resilience of the electric grid," said Paul Thessen, president of LS Power.
- "We are encouraged that the Commission recognized the value of our proposal and excited to deliver these benefits to Maine."
- LS Power is a development, investment and operating company focused on the North American power and energy infrastructure sector.
