LS Power to Acquire U.S. Portfolio of Hydro Facilities
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.
- "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.