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LS Power Completes Acquisition of EVgo

LS Power Completes Acquisition of EVgo

January 16, 2020

LS Power, a U.S. power and energy infrastructure owner, announced that it has completed its acquisition of EVgo, the nation’s largest and most reliable public fast charging network for electric vehicles (“EVs”).

Founded in 2010, EVgo is a market leader in developing, building, owning and operating the largest electric vehicle fast charging network in the United States. Its industry-leading footprint of more than 750 sites includes over 1,250 fast chargers and extends across 34 states.

In 2018, EVgo’s public fast charging network powered more than 75 million electric miles and offset an estimated 17,000 metric tons of carbon emissions. In 2019, EVgo became the first EV charging network in the U.S. to be powered by 100% renewable energy. Additional network capacity expansion underway will further accelerate EVgo’s contribution to decarbonizing the transportation sector, which has been identified by the Energy Information Administration as the leading source of greenhouse gas emissions.

Today’s announcement underscores LS Power’s commitment to investments which leverage its considerable power market expertise in leading edge energy infrastructure businesses.

As a result of this transaction, EVgo will be positioned to increase its growth while maintaining its industry leadership position and best-in-class reliability and customer service, enabling the rising number of EVs to charge quickly where and when they choose.

About EVgo:
EVgo is the nation’s largest and most reliable fast charging public network for electric vehicles, powered 100% by renewable energy. With more than 750 fast charging locations in 66 metropolitan markets in 34 states, EVgo serves more than 180,000 customers. EVgo has the best operating record in the industry – more than 98% uptime – and consistently earns the highest consumer scores on PlugShare for U.S. public charging networks. EVgo owns and operates its nationwide network of fast chargers, which are compatible with all fast charge capable EV models. Founded in 2010, EVgo partners with retail hosts, hotels, shopping centers, gas stations, parking lot operators, and other stakeholders to make it easier to fast charge your EV close to where you live, work and play. EVgo is also committed to providing a reliable charging experience for customers of partner automakers as well as fleet and rideshare operators. To find out more, or to join the EVgo network, download our app, visit www.EVgo.com and follow EVgo on Facebook, Twitter, LinkedIn, YouTube, Flickr and Instagram.

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 47,000 MW of power generation, including utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired facilities. Additionally, LS Power Grid has built 780+ miles of high-voltage transmission, with 350+ miles and multiple grid infrastructure projects currently under construction or development. 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 $54 billion in debt and equity capital to support North American infrastructure. For information, please visit www.LSPower.com.