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LS Power plants being purchased generate around 1.25 million MWh of power annually
2023-01-17
LS Power has struck a deal to purchase the 334-MW Central Rivers Power grouping of hydroelectric plants distributed all through the US from private value firm Hull Street Energy, as revealed this week. According to the agreement, LS Power will secure a total of 42 run-of-river hydro facilities located in 11 states. Almost half of the portfolio in terms of capacity, i.e. 152 MW, is based in the ISO-NE region with 86 MW present in PJM and 48 MW existing in NYISO while the rest are placed in CAISO, SERC and WECC locations.
"The hydro projects we are procuring are situated in states and markets with desirable regulatory conditions that endorse energy transition investments which we anticipate will soar over time," said Nathan Hanson, President of LS Power Generation. "Regulations in New York and Massachusetts already back up the use of small hydro projects to comply with renewable portfolio standards, and we assume additional states will follow as energy transition trends keep on increasing," he added.
In total, the aqua plants being purchased generate around 1.25 million MWh of power annually. LS Power expects to finalize the acquisition by the end of next year’s first quarter, given that it holds all necessary regulatory approvals.
LS Power has struck a deal to purchase the 334-MW Central Rivers Power grouping of hydroelectric plants distributed all through the US from private value firm Hull Street Energy, as revealed this week. According to the agreement, LS Power will secure a total of 42 run-of-river hydro facilities located in 11 states. Almost half of the portfolio in terms of capacity, i.e. 152 MW, is based in the ISO-NE region with 86 MW present in PJM and 48 MW existing in NYISO while the rest are placed in CAISO, SERC and WECC locations.
"The hydro projects we are procuring are situated in states and markets with desirable regulatory conditions that endorse energy transition investments which we anticipate will soar over time," said Nathan Hanson, President of LS Power Generation. "Regulations in New York and Massachusetts already back up the use of small hydro projects to comply with renewable portfolio standards, and we assume additional states will follow as energy transition trends keep on increasing," he added.
In total, the aqua plants being purchased generate around 1.25 million MWh of power annually. LS Power expects to finalize the acquisition by the end of next year’s first quarter, given that it holds all necessary regulatory approvals.