LS Power Agrees To Acquire Large Scale Renewable Energy Business From Algonquin Power & Utilities Corp.; No Financial Terms Disclosed

LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector, today announced it has reached an agreement with Algonquin Power & Utilities Corp. (NYSE:AQN) ("AQN") to acquire its renewable energy business (the "Renewables Business").

The Renewables Business is comprised largely of wind and solar assets located throughout the United States and Canada, including 44 operating assets with more than 3,000 megawatts (MW) of generating capacity and an 8,000 MW pipeline of wind, solar, battery energy storage and renewable natural gas projects in various stages of development.

Approximately 2,700 MW of the portfolio's assets are located in the U.S., across NYISO, MISO, PJM, ERCOT and CAISO markets, with the remaining 300 MW located in Canada.