LS Power acquires Algonquin Power’s renewable energy business

Facebook
Twitter
LinkedIn
Reddit
Email
A solar project in the US.
LS Power has established a new company, Clearlight Energy, to manage the projects acquired in this deal. Image: American Public Power Association via Unsplash.

US renewable energy development and investment company LS Power has acquired Canadian utility Algonquin Power & Utilities’ renewable energy business.

With the close of this deal, LS Power takes ownership of 44 solar PV and wind projects across North America with more than 3GW of cumulative generation capacity. LS Power has established a new company, Clearlight Energy, to manage the projects acquired in this deal.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

In addition to the operating solar and wind assets, LS Power has acquired 1.8GW of Algonquin Power’s total 8GW renewable energy generation and storage project pipeline under its new Clearlight Energy banner. It said the pipeline includes projects in Canada and some which are co-located with operational sites.

The rest of the pipeline will be taken on by LS Power’s existing subsidiary, REV Renewables. Financial details of the acquisition were not disclosed.

Jeff Norman, former president of renewables at Algonquin, will step in as CEO of Clearlight Energy. He said that establishing the company was “an exciting achievement to support the transition to cleaner energy during this pivotal moment.”

LS Power owns a portfolio of companies in the renewable energy and fossil fuel sector, including virtual power plant (VPP) specialist CPower, electric vehicle charging software company EVgo and natural gas-based independent power producer (IPP) Lightning Power. It also owns and operates electrical grid and transmission infrastructure across North America.

In August, LS Power closed US$2.7 billion in funding for its LS Power Equity Partners V investment vehicle. The fund will invest in power and energy infrastructure assets and companies across the US.

7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

August 29, 2025
US-based climate insurance provider kWh Analytics has launched a new renewable energy insurance cover for extreme weather events.
August 29, 2025
US grid interconnection agreements grew by 33% in 2024, reaching 75GW, with three-quarters signed for solar PV and battery energy storage system (BESS) projects, according to a new report from energy market analyst Wood Mackenzie.
August 29, 2025
Meridian Energy and Nova Energy have established a JV to build and operate a 400MW solar plant in Rangitaiki near Taupo in New Zealand.
Premium
August 29, 2025
PV Tech Premium hears from Renewable Properties and Silicon Ranch about the new 'start of construction' rules for US solar projects.
August 28, 2025
Indian solar manufacturing firm INA Solar has broken ground on its fourth 4.5GW cell production plant in Narmadapuram, Madhya Pradesh.
Premium
August 28, 2025
US solar companies could potentially pay “tens of billions” of dollars in retroactive duties on products imported from Southeast Asia between June 2022 and June 2024, following a decision from the US Court of International Trade (CIT).

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines