Letter from our CEO
Today, the immense, and growing, demand for power requires a “more of everything” solution.
As we reflect on 2024, I am filled with gratitude for the progress that LS Power made. Our journey continues to be one of innovation, resilience, and unwavering commitment to powering the future.
In 2024, we witnessed emerging growth in energy demand driven by electrification, the proliferation of data centers, and the revitalization of U.S. manufacturing. With the grid grappling with market volatility, we need a coherent path toward a resilient and affordable power sector in support of our economy. What we need right now is more of everything, an integrated approach that balances rapid deployment of multiple resources to support grid reliability.
LS Power has been at the leading edge of this strategy with our diversified portfolio of renewables, natural gas, transmission, demand response, and
emerging technologies. Our approach positions LS Power as a leader of the domestic energy expansion and will enable us to meet the increasing demand
for reliable and affordable power.
4.7M homes powered
LS Power’s accomplishments in 2024 were many. Highlights include the acquisition of an 810 megawatts (MW) combined cycle gas-fired power generation facility and we entered into a contract to acquire 3,000+ MW of renewable generation assets, which brought our operating portfolio of power generation to 23,000 MW. These facilities generated enough power to supply electricity to over 4.7 million homes. In addition, our transmission business was granted conditional approval for a $1.5 billion, 285-mile, 500-kilovolt transmission line that will provide a new pathway for moving power between the Desert Southwest and the Pacific Northwest.
20% employed for 10+ years
It’s clear to me that none of our accomplishments would be possible without the steadfast dedication of our people. Every milestone we’ve reached has been driven by a shared commitment to LS Power’s purpose, mission, and values. Our team’s integrity, ingenuity, and collaborative spirit continue to power our journey toward a cleaner energy future. It is through our collective passion and perseverance that we are not only meeting today’s energy challenges, but also shaping the future of the industry.
115M metric tons of CO2e avoided
As we move forward, our focus remains on delivering reliable, cost-effective, and both environmentally and financially sustainable energy solutions through private investment and operational excellence. We are excited about the opportunities that lie ahead, and we are confident in our ability to meet the challenges of the future. With the support of our dedicated employees, industry partners, and stakeholders, LS Power will continue to shape a more sustainable and exciting future for all.
Thank you for your continued support and trust in LS Power.
Paul Segal
Chief Executive Officer