LS Power acquired Algonquin Power & Utilities Corp.'s renewable energy business (excluding hydro) for up to $2.5B.
The renewables business is comprised largely of wind and solar assets located throughout the United States and Canada, including 44 operating assets with more than 3,000 MW of generating capacity and an 8,000 MW pipeline of wind, solar, battery energy storage and renewable natural gas projects in various stages of development.
Approximately 2,700 MW of the portfolio's assets are located in the U.S., across NYISO, MISO, PJM, ERCOT and CAISO markets, with the remaining 300 MW located in Canada.