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LS Power buys distributed energy infrastructure group GI Energy and its New York battery projects

By Andy Colthorpe
Endurant, as GI Energy, delivered a combination of solar PV, geothermal energy and smart automation and controls to create superstore chain Walgreens’ first net zero outlet in Evanston, Illinois. Image: Walgreens.

US power and energy infrastructure developer, investor and operator LS Power has bought up GI Energy, a provider of clean energy solutions for commercial and industrial (C&I) customers with projects spanning the east and west coasts.

GI Energy, which will now be rebranded and renamed Endurant Energy following the takeover is working on everything from a 12,000 home ‘eco-district’ in San Francisco to a net zero Walgreens supermarket in Illinois to several microgrids, CHP projects and cogeneration plants.

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The group is also contracted to deliver four separate 1MW / 1MWh battery energy storage installations in New York for utility Con Edison in three boroughs of New York City which will help the utility cope with peak demand and defer its need to invest in conventional grid infrastructure.

Endurant works on a fully-funded basis: it owns the clean energy infrastructure it provides, lowering the capital expenditure customers need to invest to get the often complex combinations of clean and renewable technologies. While GI Energy’s executive leadership looks to be staying on, new owner LS Power said it will be investing a “substantial amount of additional capital” to advance Endurant’s suite of offerings.

“As we decarbonise our energy system and rely more heavily on electricity, the value of reliability and resilience is increasing,” LS Power CEO Paul Segal said.

“Endurant can be a part of the solution and is an excellent addition to the LS Power family of companies, further demonstrating our long-standing commitment to innovation and investment in clean energy solutions.”

“The energy industry is capital intensive and complex. With the strategic advantages LS Power brings us, we can realise our vision to be fully integrated, building our portfolio of distributed energy assets, and providing project financing solutions for our customers and partners. This will position us well for the enormous market opportunity being created by the energy transition,” Endurant CEO Tom Chadwick said.

LS Power meanwhile has about 4GW of large-scale battery storage under development in California and New York, while its completed projects are the 40MW Vista Energy Storage project which achieved commercial operations in 2018 and the 250MW / 250MWh Gateway Energy Storage project, which was the world’s largest operational battery storage project at the time it was officially inaugurated last August — although it was overtaken for that title by another plant in California a few months ago.

LS Power also took over electric vehicle charing company EVgo at the begining of this year and in 2018 acquired commercial and industrial distributed energy solutions provider CPower Energy Management, which recently won contracts from New York utilities Con Edison and National Grid subsidiary Niagra Mohawk Power Corporation for peak load management for the utilities' networks. 

Watch LS Power’s senior VP for business development Reid Capalino moderate a panel discussion with industry leaders from finance and technology on the optimal strategies for making money from energy storage, filmed a few weeks ago at this year’s Energy Storage Summit USA.

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