LS Power is creating a new business unit, Rev Renewables, to develop, acquire, and operate energy storage and renewable projects.
Rev will take over LS Power’s 2.4 GW portfolio of operating solar, storage, and wind projects. The portfolio includes 25 solar power facilities across 14 states with a total capacity of 467 MWdc/365MWac); a California-based battery storage portfolio (615 MW by the end of 2022), a 1,620 MW pumped storage hydro portfolio in the mid-Atlantic region of PJM; and 132 MW of wind assets.
The business unit will be led by Edward Sondey, CEO. He previously was senior managing director of private equity at LS Power.
LS Power was founded in 1990 and is a development, investment, and operating company focused on the North American power and energy infrastructure sector, including transmission and roughly 45,000 MW of generating capacity. The company’s other investments include CPower Energy Management, Endurant Energy and EVgo.
