M&A Deal Summary

LS Power Development Acquires OpTerra Energy Services

On June 12, 2025, LS Power Development acquired energy services and equipment company OpTerra Energy Services from ENGIE

Acquisition Highlights
  • This is LS Power Development’s 3rd transaction in the Energy Services and Equipment sector.
  • This is LS Power Development’s 11th transaction in the United States.
  • This is LS Power Development’s 2nd transaction in California.

M&A Deal Summary

Date 2025-06-12
Target OpTerra Energy Services
Sector Energy Services and Equipment
Buyer(s) LS Power Development
Sellers(s) ENGIE
Deal Type Divestiture

Target

OpTerra Energy Services

Oakland, California, United States
OpTerra Energy Services is an energy company that works with education, local government, commercial, industrial, and institutional organizations to implement efficiency and sustainable energy solutions that save money, enhance safety, improve assets, and protect the environment. OpTerra Energy Services was formed in 2010 and is based in Oakland, California.

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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 12 of 12
Sector: Energy Services and Equipment M&A 3 of 3
Type: Divestiture M&A Deals 6 of 6
State: California M&A 2 of 2
Country: United States M&A 11 of 11
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-09 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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Seller(S) 1

SELLER

ENGIE

Courbevoie, France

Category Company
Founded 1880
Sector Utilities
Revenue 73.8B EUR (2024)
DESCRIPTION

ENGIE is a French utility company that provides electricity generation and distribution, natural gas, and renewable energy. ENGIE was founded in 1880 and is based in Courbevoie, France.


DEAL STATS #
Overall 9 of 9
Sector: Energy Services and Equipment M&A 3 of 3
Type: Divestiture M&A Deals 8 of 8
State: California M&A 1 of 1
Country: United States M&A 5 of 5
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-24 Broad Reach Power

Houston, Texas, United States

Broad Reach Power is a utility-scale storage independent power producer (IPP). Broad Reach Power owns a 16-gigawatt portfolio of utility-scale solar and energy storage power projects in Montana, California, Wyoming, Utah, and Texas which give utilities, generators and customers access to technological insight and tools for managing merchant power risk so they can better match supply and demand. Broad Reach Power was founded in 2019 and is based in Houston, Texas.

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