LS Power has formed Rev Renewables LLC as a new subsidiary focused on the development, acquisition and operation of energy storage and renewable projects.
With a 2.4 GW portfolio of operating storage, solar and wind projects at launch, Rev’s portfolio includes a California-based battery storage portfolio (615 MW by the end of 2022) that includes the Gateway project (250 MW), a non-utility pumped storage hydro portfolio in the mid-Atlantic region of PJM (1,620 MW), wind assets (132 MW) and a portfolio of 25 solar power facilities spanning 14 states (467 MW DC/365MW AC).
“Energy storage and renewable generation are essential components in meeting our decarbonization goals while maintaining affordability, reliability and resilience,” says Paul Segal, CEO of LS Power. “The rising demand for clean energy solutions presents a once-in-a-lifetime opportunity for Rev Renewables to deploy its human and capital resources into storage, solar and wind projects. Rev is the latest effort by LS Power to support the commercialization and deployment at-scale of clean energy technologies.”
“Rev Renewables will further drive the electrification of our economy and support the transition to a cleaner energy grid,” states Rev Renewables CEO Ed Sondey. “The establishment of Rev Renewables is a significant milestone and extension of LS Power’s renewable energy focus. I am excited to work with our impressive team to drive Rev’s continued expansion as we embark on this mission-critical journey to decarbonize our nation’s grid.”
