Loader
 

LS Power Selected by the California ISO for Transmission Projects Collinsville & Manning

LS Power Selected by the California ISO for Transmission Projects Collinsville & Manning

January 25, 2023

LS Power’s projects provide cost savings and electric rate certainty

The California Independent System Operator (“CAISO”) announced on January 23 that it has selected LS Power Grid California, LLC to finance, construct, own, operate and maintain the Collinsville 500/230 kV Substation Project (“The Collinsville Project”) and the Manning 500/230 kV Substation Project (“The Manning Project”).

“LS Power is honored to be selected for these important projects that will improve the reliability of the California grid and enable new renewable generation,” said Paul Thessen, President of LS Power Development. “These projects align with LS Power’s goals to be on the forefront of the transition to clean energy.”

CAISO conducted a competitive selection process pursuant to the Federal Energy Regulatory Commission’s Order No. 1000 and selected LS Power’s proposals from a total of four qualified proposals per project. These represent LS Power’s fourth and fifth competitively procured transmission awards by CAISO. CAISO’s selection reports for each project stated that LS Power’s proposals “provide the most overall rate certainty and stability and the lowest project net present value.” CAISO’s reports went on to say that LS Power offered “the strongest cost containment measures.”

Each project included new high-voltage facilities that enhance the transmission grid to meet state policy goals for renewable energy. The Collinsville Project will increase the reliability of the northern greater Bay Area by connecting the 500 kV and 230 kV systems near Pittsburg via a new substation and new 230 kV transmission lines. The Manning Project will reinforce the Central Valley area with a new 500/230 kV substation and new 230 kV transmission lines. Both projects will enable new renewable generation connections in CAISO.

“We look forward to implementing these projects in close collaboration with CAISO, the California Public Utilities Commission and the local communities,” Thessen said. “We appreciate CAISO’s thorough evaluation and recognition of the long-term value and certainty that can be provided through competitive transmission processes.”

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.