M&A Deal Summary

LS Power Development Acquires Algonquin - Renewable Energy Business

On August 9, 2024, LS Power Development acquired utilities company Algonquin - Renewable Energy Business from Algonquin

Acquisition Highlights
  • This is LS Power Development’s 3rd transaction in the Utilities sector.
  • This is LS Power Development’s 1st transaction in Canada.
  • This is LS Power Development’s 1st transaction in Ontario.

M&A Deal Summary
Date 2024-08-09
Target Algonquin - Renewable Energy Business
Sector Utilities
Buyer(s) LS Power Development
Sellers(s) Algonquin
Deal Type Divestiture

Target

Algonquin - Renewable Energy Business

Oakville, Ontario, Canada
Algonquin's Renewable Energy 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 megawatts (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. Algonquin's Renewable Energy Business is based in Oakville, Ontario.

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Buyer(S) 1

Buyer

LS Power Development

New York,, New York, United States
Category Company
Founded 1990
Sector Renewable Energy
DESCRIPTION

LS Power is an employee-owned, independent power company.We are a developer, owner, operator and investor in power generation and electric transmission infrastructure throughout the United States.We have developed, constructed, managed or acquired more than 32,000 MW of competitive power generation and 470 miles of transmission infrastructure.

DEAL STATS #
Overall 11 of 11
Sector (Utilities) 3 of 3
Type (Divestiture) 5 of 5
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-16 Hunterstown Power

Gettysburg, Pennsylvania, United States

Hunterstown Power is a combined-cycle gas turbine generating power plant that provides 810 MW to the PJM (Met-Ed) 500kV grid, with enough to supply more than 648,000 homes. Hunterstown Power is based in Gettysburg, Pennsylvania.

Buy -

Seller(S) 1

SELLER

Algonquin

Oakville, Ontario, Canada
Category Company
Founded 1988
Sector Renewable Energy
Employees3,946
Revenue 2.7B USD (2023)
DESCRIPTION

Algonquin is a renewable energy and regulated utility company with assets across North America. The Corporation actively invests in hydroelectric, wind and solar power facilities, and sustainable utility distribution businesses (water, electricity and natural gas) through its two operating subsidiaries. Algonquin Power Company owns a direct or indirect equity interest in 20 hydroelectric generating facilities, 5 wind energy facilities, and 7 thermal energy facilities. Algonquin was founded in 1988 and is based in Oakville, Canada.

DEAL STATS #
Overall 1 of 1
Sector (Utilities) 1 of 1
Type (Divestiture) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-11 Empresa de Servicios Sanitarios de Los Lagos S.A.

Los Lagos, Chile

Empresa de Servicios Sanitarios de Los Lagos S.A. (ESSAL) is a water and wastewater utility company that has approximately 230,000 connections in Southern Chile, a region well known for its access to water. The utility operates 48 potable water production systems, 29 sewage plants, and 4,100 km of distribution and sewage networks covering 33 municipalities across three regions.

Buy -
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