LS Power Spins Off 18 Northeast Gas-Fired Plants into Subsidiary

LS Power, headquartered in New York City, has developed or acquired 47,000 megawatts (MW) of power generation, including utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired facilities. We’ve previously mentioned LS Power in a number of MDN articles (see our LS articles here). In April, Bloomberg reported that LS was actively shopping a major portion of its portfolio — natural gas-fired power plants that provide about 5 gigawatts (GW) of power to the nation’s largest power grid — PJM (see LS Power Shops Portfolio of Gas-Fired Power Plants in PA, Elsewhere). LS decided to go in a different direction. Instead of selling its PJM gas-fired assets, the company announced yesterday that it has spun off the PJM and ISO-NE and NYISO gas-fired plants, 18 of them generating 11 GW of electricity, into its own standalone subsidiary called Lightning Power.

---

To view this content, log into your member account. (Not a member? Join Today!)