LS Power Completes Acquisition of CPower Energy Management

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Dec 21, 2018, 15:24 ET

NEW YORK and BALTIMORE, Dec. 21, 2018 /PRNewswire/ -- LS Power, a U.S. power and energy infrastructure owner, today announced that it has completed its previously announced acquisition of Enerwise Global Technologies, Inc. (trade name "CPower") for a private fund it manages. CPower is a leader in Demand Response and Distributed Energy Resources in North America and will now operate as a stand-alone entity under the LS Power umbrella of companies. Financial terms were not disclosed.

CPower is a demand-side energy management company that helps organizations save on energy costs, earn revenue through energy curtailment, increase grid reliability and achieve sustainability goals. This acquisition underscores LS Power's ongoing focus on deploying its considerable power industry expertise in critical and growing sectors of the market.

As a result of this transaction, CPower is positioned to more quickly advance its growth strategies while maintaining its industry leadership position and best-in-class customer service, furthering its customers' ability to monetize new energy technologies across all power markets.

About LS Power:
Founded in 1990, LS Power is an employee-owned, independent power company with offices in New York, New Jersey, Missouri, California and Texas. LS Power is a developer, owner, operator and investor in power generation and electric transmission infrastructure throughout the United States. Since inception, LS Power has developed, constructed, managed or acquired more than 41,000 MW of competitive power generation and 560 miles of transmission infrastructure, for which it has raised over $40 billion in debt and equity financing. For more information, please visit www.LSPower.com

About CPower:
Founded in 2014, CPower is a leading demand-side energy management solutions provider that helps commercial, industrial and government organizations in the U.S. energy markets save on energy costs, earn revenue through energy curtailment, enhance their sustainability efforts, and contribute to a balanced, reliable grid. CPower create customized energy strategies designed to help customers achieve success through demand response and demand management programs including automated curtailment, storage, and energy efficiency monetization. For more information, please visit www.CPowerEnergyManagement.com

SOURCE LS Power