LS Power Raises $6 Billion in Funding

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Written by Danny Levin, Deputy Editor for IIR News Intelligence (Sugar Land, Texas)

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Summary

Energy developer LS Power closed $6 billion in funding, some of which already is being deployed for its pending acquisition of U.S. gas-fired generation plants from Constellation Energy. Industrial Info Resources is tracking $6.4 billion worth of active and proposed projects from LS Power and its subsidiaries.

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LS Power's New Funds

LS Power, which develops North American power and energy infrastructure, closed a $6 billion package to support its buildout. About $1.7 billion already is being deployed for its pending acquisition of U.S. gas-fired generation plants from Constellation Energy.

Industrial Info Resources data show $6.4 billion worth of active and proposed projects from LS Power and its subsidiaries.

According to a company press release, LS Power Equity Partners VI (Fund VI) committed approximately $6 billion for investment in "assets, platforms, and companies in the renewables, conventional generation, energy storage, distributed energy resources, and other critical energy infrastructure spaces."

Nearly 30%, $1.7 billion, already is being deployed for the pending acquisition of a 5-gigawatt (GW) natural gas portfolio from Constellation Energy in the PJM Interconnection and Electric Reliability Council of Texas (ERCOT) service areas via two separate transactions:

• The 569-megawatt (MW) York 1 and 828-MW York 2 in Delta, Pennsylvania
• 1,134-MW Bethlehem Energy Center in Pennsylvania
• 1,136-MW Hay Road Power Station in Wilmington, Delaware
• 707-MW Edge Moor Energy Center, also in Wilmington

Industrial Info Resources offers detailed information on these power plants.

In a separate transaction, LS Power plans to acquire Constellation's 605-MW Brazos Valley Energy Center outside Houston, Texas, formerly known as the Jack Fusco Energy Center. Readers can view the plant profile.

The acquisitions are expected to close later this year, pending regulatory approvals from the U.S. Department of Justice and U.S. Federal Energy Regulatory Commission.

LS Power's Capital Spending

Projects from LS Power being tracked by Industrial Info Resources include ongoing construction of the 500-kilovolt Fern Road Station in California--which entails the construction of two static synchronous compensators (STATCOM) from Siemens Energy--designed to connect with an existing substation to support Pacific Gas and Electric Company's (PG&E) regional transmission network. Readers can view the project report.

STATCOMs are used in transmission networks to inject or absorb power in order to stabilize voltages.

Meanwhile, projects nearing construction include its stand-alone Commerce Energy Storage project in Commerce, California, which is designed for 250 MW using LG Chemical Limited's lithium-ion technology.

Also underway is construction of the 131-MW Waller photovoltaic (PV) solar plant in Lancaster, Virginia, which is expected to come online in 2027. Both projects are managed by LS Power's REV Renewables subsidiary. Readers can view more information on the energy-storage and solar projects.

Projects in the planning stage include construction of two stand-alone battery energy storage systems in Clark County, Nevada, each with a capacity of roughly 250 MW. View the project reports here.

Another project from LS Power under construction is in Canada, through its wind- and-solar subsidiary operating in the U.S. and Canada (Clearlight Energy). The 122-MW Phase II addition at its Saint-Damase Wind farm in Quebec kicked off in June and is expected to wrap up next year, after which it will add power to the Hydro-Quebec grid. IIR offers a detailed project report.

About one-third of the company's proposed investment is attributed to U.S.-based onshore wind, and in late 2025, LS Power expanded its operational capacity by closing its acquisition of about 1,300 MW worth of onshore assets from BP plc.

The Industrial Info Resources GMI Project Database offers a full list of detailed reports for projects mentioned in this article.

Industrial Info Resources also offers a full list of reports for active and proposed projects from LS Power and its subsidiaries.

Key Takeaways

• North America-based LS Power raised $6 billion in funding to support its energy infrastructure buildout.
• Funds for the pending acquisition of natural gas-fired assets already are being deployed.
• $6.4 billion: Total value of active and proposed projects from LS Power and its subsidiaries includes solar, natural gas and wind assets as well as transmission infrastructure.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).