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LS Power Completes Major Solar Acquisition of 25 Solar Facilities Spanning 14 States


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PR Newswire
NEW YORK, June 29, 2021 /PRNewswire/  LS Power today announced it has completed the acquisition of 25 solar power facilities totaling 467.8 MWdc (365 MWac) from Public Service Enterprise Group Incorporated (PSEG).
These solar projects represent an important addition to LS Power s efforts to accelerate the evolution of a cleaner power grid, said LS Power CEO Paul Segal. This acquisition, along with our other investments in the clean energy space, highlights LS Power s commitment to scaling a diversified development and operating platform that will drive the decarbonization of our economy.
The solar facilities were acquired by LS Power affiliate Quattro Solar, LLC. ....

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With solar sale, PSEG doubles down on offshore wind and nuclear


Dive Brief:
The sale of Public Service Enterprise Group s (PSEG) solar portfolio is part of a larger strategy, one that has the New Jersey-based power company betting big on another source of renewable energy – offshore wind turbines.
PSEG announced on May 5 it had agreed to sell its 467 MW dc Solar Source portfolio to Quattro Solar, LLC, an affiliate of LS Power. The package includes 25 solar facilities. PSEG said it expects the sale of its solar assets to close in the second quarter, with the net carrying value of the portfolio s assets and liabilities at approximately $500 million.
PSEG s sale of its Solar Source portfolio came just a few weeks after the utility cut a deal to buy a 25% stake in the 1,100 MW offshore project Ocean Wind, off the coast of New Jersey. ....

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