LS Power Group has announced the successful close of its latest fund, LS Power Equity Partners Fund V. This fund closed with total commitments of approximately USD 2.7 billion, exceeding its USD 2.5 billion target.
To date, the fund has invested or committed approximately USD 1.6 billion across renewable and gas-fired generation, renewable fuels, and green hydrogen, with an extensive pipeline of additional opportunities. The fund will invest in North American power and energy infrastructure assets, platforms, and companies. Recent investments include the announced acquisition of Algonquin Power & Utilities Corporation's North American renewable energy business.
Since its inception, LS Power has raised USD 60 billion in debt and equity capital and developed and acquired more than 47 GW and 160 power generation projects to support North American energy infrastructure. In addition, LS Power Grid has developed 16 transmission projects, including six utilities in operation across five Independent System Operators/Regional Transmission Organisations that serve 185 million people. These projects include over 780 miles of high voltage transmission, with a further 350 miles in development.
