LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector, has officially announced the acquisition of ENGIE Services US.
As a part of the deal, ENGIE Services has rebranded to its previous name i.e. OPTERRA Energy Services. More on that would reveal how the company effectively builds upon LS Power’s long history of delivering reliable, cost-effective, and innovative energy solutions.
Talk about what made OPTERRA an ideal acquisition candidate, the answer resides in its ability to provide comprehensive energy solutions including energy efficiency upgrades, renewable energy systems, energy storage, microgrids, operations and maintenance, HVAC and lighting, as well as measurement and verification services.
“Meeting America’s growing energy demand will require a ‘more-of-everything’ approach—and the energy services market is an integral piece of that puzzle,” said Paul Segal, CEO of LS Power. “The addition of OPTERRA brings a rare combination of leadership talent, technical expertise and trusted customer relationships that enhance LS Power’s energy solutions platform. Their cutting-edge capabilities in energy efficiency services and low-carbon offerings are a strategic fit as we continue to expand our portfolio of power and infrastructure solutions.”
Thanks to its industry-leading capabilities, OPTERRA has managed, thus far, to complete more than 9,000 public sector projects across North America.
These projects are headlined by, for starters, the modernization of 72,000 streetlights for the District of Columbia. Joining that would be the installation of Chula Vista Elementary School District’s 8.1 megawatts of solar across 48 sites and microgrid for emergency backup.
Apart from it, OPTERRA also empowered the City of Milpitas’ to integrate energy and water savings program which, on its part, is projected to save the city more than $30 million.
All in all, the company has installed/delivered 375 MW of solar power and 24 active microgrid projects to support cities, counties, federal markets and educational institutions.
OPTERRA case is also aided by its lineup of customers which includes the Department of Veterans Affairs, Broward County, Florida, the City of Arlington, Texas, and the Oregon Community Unit School District in Illinois.
Upon the completion of this acquisition, OPTERRA will join LS Power’s existing portfolio of energy infrastructure companies that provide energy efficiency and grid reliability services.
You see, founded in 1990, LS Power’s rise up the ranks stems from developing or acquiring an estimated 50,000 MW of power generation, including utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired facilities. The company has also conceived 780+ miles of high-voltage transmission with an extra 350+ miles currently under construction or development.
Till date, LS Power has successfully raised $65 billion in debt and equity capital to support North American infrastructure.
“Reintroducing OPTERRA under LS Power marks an exciting new chapter for our legacy team dedicated to serving the public sector,” said Courtney Jenkins, CEO of OPTERRA Energy Services. “We’re building on a proven foundation to deliver innovative, leading-edge technology solutions that make energy efficiency and low carbon projects accessible and impactful. Through our unique range of in-house experts, we empower our customers to meet aggressive goals around financial savings and energy resiliency that have a positive ripple effect across the communities we serve, fueling accelerated growth for both our customers and our mission.”
