LS Power, a US-based energy development company has agreed to acquire 42 run-of-river hydropower facilities in the US from Hull Street Energy. The hydroelectric plants, which are spread across 11 US states, have a total 334 MW capacity. Of these, 48 MW are operated by the New York Independent System Operator (NYISO), and 152 MW are located in New England and 86 MW in the Pennsylvania-New Jersey-Maryland (PJM) region.
The California ISO, SERC, and Western Electricity Coordinating Council (WECC) are the holders of the remaining capacity. No financial details of the deal have been disclosed. The deal is expected to close by the second quarter of 2023 subject to certain closing conditions and regulatory approvals being met.
LS Power was founded in 1990 and has since developed, built, managed, or acquired more than 46,000 MW of generation capacity. The company’s operations are concentrated in North America’s power and energy infrastructure market.