LS Power Creates Renewable Business Unit

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San Jose, Calif.-based LS Power Group, a privately owned power industry developer, investor and manager, has created a dedicated business unit that will pursue the development, acquisition and ownership of renewable energy projects.

‘We have received significant feedback from our load-serving customers, and they are interested in renewable electricity solutions,’ says Mike Segal, chairman and CEO of LS Power. ‘While most renewable resources still require state or federal incentives to be competitive with traditional forms of generation, as the technologies evolve, they are becoming increasingly cost-effective.’

The renewable business has been staffed to pursue the development of wind, solar photovoltaic and solar thermal renewable resources. As part of this initiative, LS Power is securing and permitting suitable generation sites, developing renewable energy related transmission projects, pursuing acquisitions, developing and commercializing new renewable technology solutions, and investing in renewable technology and equipment companies.

SOURCE: LS Power Group

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