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LS Power Completes Acquisition of Rolling Hills Natural Gas Power Plant in Ohio

LS Power Completes Acquisition of Rolling Hills Natural Gas Power Plant in Ohio

September 16, 2022

Flexible peaking units join LS Power’s fleet of assets that support the energy transition

In June 2022, LS Power announced that it has reached an agreement with an affiliate of ArcLight Capital Partners, LLC to acquire the Rolling Hills natural gas-fired power plant in Wilkesville, Ohio.  The transaction closed following regulatory approvals on September 16, 2022.

The 835-megawatt Rolling Hills facility consists of five simple cycle “peaking” units located in the PJM Interconnection.

“Rolling Hills will join LS Power’s fleet of flexible gas-fired generation, a portfolio of assets with the dynamic ramping attributes critical to a successful clean energy transition,” said Nathan Hanson, President of LS Power Generation.

“Our flexible generation assets perform a vital and complementary service in the energy transition; namely, keeping the lights on when renewable resources are unavailable due to weather conditions or when extreme weather events destabilize the grid,” Hanson said.

Including projects owned through its REV Renewables company, LS Power owns over 16,600 megawatts of power generation, including a nearly 14,000 megawatt gas generation fleet that complements its multiple energy transition platforms focused on wind and solar power, energy storage, demand response, microgrids, renewable fuels, electric transportation and transmission infrastructure.

“Decarbonizing the electric grid in a reliable, affordable, and responsible manner will require efficient, flexible gas-fired generation,” said Paul Segal, LS Power CEO. “Our fleet is well-positioned to help accelerate the clean energy transition by managing the intermittency of renewables.”

“With the grid grappling with greater weather extremes and market volatility, a coherent path toward decarbonization embraces both rapid deployment of low-carbon energy resources and maintenance of sufficient fossil-fuel infrastructure to ensure continued energy security, affordability, and reliability,” Segal said. “This is LS Power’s approach, as reflected in our portfolio and priorities.”

Accelerating the Energy Transition

LS Power’s gas generation fleet spans 10 states and consists primarily of peaking plants along with combined cycle facilities.

LS Power also manages a growing family of energy transition platforms, including:

  • EVgo, a fast-charging network for electric vehicles, powered by 100% renewable energy
  • Endurant Energy, a provider of distributed energy infrastructure solutions
  • CPower Energy Management, provider of distributed energy resource management solutions
  • Primary Renewable Fuels, LLC, a renewable natural gas development and operating platform
  • REV Renewables, a leader in renewables and energy storage
  • Rise Light & Power, NYC’s largest generator, and developer of clean energy infrastructure
  • LS Power Transmission, developer of 660 miles of high-voltage transmission lines

About LS Power:

Founded in 1990, LS Power is a premier development, investment, and operating company focused on the North American power and energy infrastructure sector, with leading platforms across generation, transmission and energy transition solutions. Since inception, LS Power has developed or acquired over 47,000 MW of power generation, including utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired facilities. Through LS Power Grid, the firm has built and operates approximately 680 miles of high-voltage transmission and has another 200+ miles and multiple grid infrastructure projects currently under construction or development. Across its efforts, LS Power actively invests in and scales businesses that are accelerating the energy transition, including electric vehicle charging, demand response, microgrids, renewable fuels and waste-to-energy platforms. Over the years, LS Power has raised $53 billion in debt and equity capital to support North American infrastructure.