LS Power Acquires EVgo

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LS Power, a U.S. power and energy infrastructure owner, has acquired EVgo, the nation’s largest public fast-charging network for electric vehicles.

Today’s announcement aligns with LS Power’s commitment to investments that leverage its marketing position in energy infrastructure businesses. As a result of this transaction, EVgo will be positioned to increase its growth while providing its customers with best-in-class reliability and service, enabling the rising number of EVs to charge quickly where and when they choose, notes the company.

In 2018, EVgo’s public fast-charging network powered more than 75 million electric miles. In 2019, the company became the first EV charging network in the U.S. to be powered by 100% renewable energy. Additional network capacity expansion under way will further accelerate EVgo’s contribution to decarbonizing the transportation sector, which is a leading source of greenhouse gas emissions.

LS Power has developed, constructed and acquired more than 41,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired and battery storage projects.

Founded in 2010, EVgo has developed, built, owned and operated the largest electric vehicle fast-charging network in the U.S. Its footprint of more than 750 sites includes over 1,250 fast-chargers and extends across 34 states. EVgo partners with retail hosts, hotels, shopping centers, gas stations, parking lot operators and other stakeholders.

Photo: An EVgo charging station

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