California ISO Selects LS Power Affiliate for New Competitive Transmission Project in the Bay Area

News

ST. LOUIS, April 20, 2026 — On April 17, the California ISO (CAISO) selected LS Power Grid California (LSPGC) to finance, construct, own, operate and maintain a new 230-kV underground transmission line that will strengthen power infrastructure and improve electric grid reliability across the Bay Area.

The approximately 7-mile transmission line will connect Silicon Valley Power’s Northern Receiving Station Substation (NRS) to Pacific Gas & Electric’s (PG&E) San José B Substation, building on the work of LSPGC’s Power Santa Clara Valley and Power the South Bay projects, which are expected online in 2028.

CAISO approved the project in its 2024-2025 Transmission Plan and LSPGC was selected from a total of five qualified proposals. CAISO estimates the project to cost $150 million to $200 million with a required in-service date of June 1, 2030.

“We appreciate CAISO’s continued confidence in LS Power through this competitive selection,” said Paul Thessen, president of development for LS Power. “We have consistently delivered on our commitments in a timely manner, and this project builds on our growing footprint in California and extensive experience successfully developing transmission projects across the country. We look forward to working with our partners to deliver this critical infrastructure for the Bay Area.

“CAISO is at the forefront of competitive transmission planning, and its transparent and deliberate annual planning process ensures that electricity consumers benefit,” added Thessen.

In collaboration with PG&E, the proposal combined LS Power’s development, financing and construction capabilities with PG&E’s operational expertise. Following energization, PG&E is expected to own, operate and maintain the project, supporting energy demand growth in the San José area, long-term electric system reliability, and community economic development.

LSPGC currently has one asset in service — the Orchard Substation, located in Fresno County — along with five additional transmission projects in development across the state, including two in the Bay Area.

About LS Power Grid California
LS Power Grid California is an electric transmission utility in the state of California that provides reliability and resiliency for the electric grid and enables the flow of energy from efficient and diverse generation resources. LS Power Grid California is separate from its affiliates, LS Power and LS Power Grid, which are not regulated by the California Public Utilities Commission.

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 expansion solutions. Since inception, LS Power has developed or acquired 50,000 MW of power generation, including utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired facilities. Through its transmission business, LS Power Grid, the company operates 7 transmission utilities, has built 780+ miles of high-voltage transmission with another 400+ miles currently in construction or development. LS Power actively invests in and scales businesses that are meeting the growing needs of the energy expansion, including electric vehicle charging, demand response, microgrids, renewable fuels and waste-to-energy platforms. Over the years, LS Power has raised more than $77 billion in debt and equity capital to support North American infrastructure. For information, please visit www.lspower.com.

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