LS Power will Acquire U.S. Portfolio of Hydro Facilities
LS Power 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.
“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.
“Reducing carbon intensity is an enduring secular trend that has long informed our energy transition strategy, which combines our renewable generation and fuels, battery energy storage, distributed energy, transmission, and transportation electrification platforms with a flexible, complementary natural gas fleet,” Segal added.