LS Power forms new clean energy development firm Rev Renewables
LS Power has announced the creation of Rev Renewables, a new company focused on the development, acquisition and operation of energy storage and renewable projects. Rev brings together the storage and renewable assets of parent company LS Power – a company with three decades of investment, innovation and development experience in the U.S. energy and energy infrastructure sectors – with a team of seasoned industry professionals to create a differentiated growth to create clean energy platform.
With a 2.4 GW portfolio of operational storage, solar and wind projects by day 1, Rev launches today as one of the largest independent pure-play energy storage and renewables companies in the US. Rev’s sizeable portfolio includes a California-based battery storage portfolio (615 MW by the end of 2022) with Gateway, the world’s largest battery at 250 MW when it was powered in 2020; PJM’s largest non-utility pumped storage hydro portfolio in the mid-Atlantic region (1620 MW); wind energy (132 MW); and a portfolio of 25 solar facilities across 14 states (467 MWdc/365MWac). Rev also has a robust development pipeline of projects in progress through the whole country.
“Energy storage and renewable generation are essential components to achieving our decarbonisation goals while maintaining affordability, reliability and resilience,” said Paul Segal, CEO of LS Power. “The rising demand for clean energy solutions presents Rev Renewables a unique opportunity to leverage its human and capital resources for storage, solar and wind projects. Rev is LS Power’s latest effort to support the commercialization and deployment of clean energy technologies at scale.”
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