LS Power To Acquire Nation's Largest Public Fast Charging Network For Electric Vehicles

LS Power announced that it has signed a definitive agreement to acquire EVgo from Vision Ridge Partners.

LS Power described EVgo as the nation's largest public fast charging network for electric vehicles ("EVs")

EVgo will continue to operate as a stand-alone entity under the LS Power umbrella of companies.

The transaction is expected to close in early 2020 and financial terms were not disclosed.

EVgo's footprint of more than 750 sites includes over 1,250 fast chargers and extends across 34 states.

"Today's announcement underscores LS Power's commitment to investments which leverage its considerable power market expertise in leading edge energy infrastructure businesses," LS Power said

To date, LS Power has developed, constructed, managed or acquired more than 41,000 MW of competitive power generation and 630 miles of transmission.

Additionally, LS Power actively invests in businesses and platforms focused on distributed energy resources.

As first reported by EnergyChoiceMatters.com, an LS Power affiliate earlier this year sold a significant portion of its retail energy customer book to NRG Energy and withdrew its retail supplier licenses in several states