LS Power launches power storage and renewable resource firm Rev Renewables

• US development and investment firm LS Power has today introduced the production of Rev Renewable LLC, a brand-new firm focused on the advancement, purchase and procedure of energy storage and eco-friendly projects.

It has actually been granted on the first day with a 2.4 GW portfolio of operating storage, solar and also wind projects, making it "among the biggest independent pure-play energy storage as well as renewables companies in the US today", according to LS Power.

The portfolio consists of: a California-based battery storage portfolio that is readied to strike 615MW by the end of 2022 and consists of 'Portal', the world's largest battery at 250MW when it went on the internet in 2020; a 1,620 MW storage hydro portfolio in the PJM interconnection area; wind properties with a capability of 132 MW; and also a portfolio of 25 solar energy centers spanning 14 states (467 MWdc/365MWac), which it got in June. Rev likewise claimed it has a "durable" project pipeline throughout the US.

" The climbing need for clean power options presents an once-in-a-lifetime chance for Rev Renewables to release its human and also prime resources right into storage space, solar and wind projects," claimed Paul Segal, CEO of LS Power.

" Rev is the latest initiative by LS Power to support the commercialisation and also implementation at-scale of clean power innovations."

The new company will be led by CEO Ed Sondey as well as its executive suite is consisted of "sector specialists with extensive experience throughout the power as well as power markets", according to a company news releases.

"I am thrilled to work with our excellent group to drive Rev's continued growth as we start this mission-critical journey to decarbonise our country's grid," said Sondey.