LS Power Acquires Clean Energy Solutions Provider GI Energy, Launches Rebranded Company as Endurant Energy

·5 min read

With LS Power’s backing, Endurant will strengthen its leadership position in sustainable distributed energy

LS Power, a U.S. power and energy infrastructure owner, today announced the completed acquisition of distributed energy infrastructure solutions provider GI Energy, which will henceforth be rebranded as "Endurant Energy" (Endurant).

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LS Power’s ownership support and rebranding efforts position Endurant for accelerated growth as a market-leading distributed energy solutions developer, owner, and operator.

Endurant is a full-service provider of cost-effective, resilient and sustainable energy solutions. It serves a wide range of sectors including education, commercial, industrial, real estate, healthcare, hospitality and public utilities. The new Endurant brand reflects the company’s suite of innovative full-service clean energy solutions, including microgrids, battery energy storage systems, and integrated eco-districts. The company’s impressive portfolio of projects ranges from single-technology energy retrofits of historic landmarks to large-scale microgrids integrated with resource management and smart-city infrastructure.

"We are excited to partner with the Endurant team to execute upon their vision of delivering optimal energy infrastructure solutions, harnessing the best available technologies. We look forward to further propelling Endurant’s growth as a national leader in the distributed energy space and are committed to building on the company’s past successes," said Paul Segal, CEO of LS Power. "As we decarbonize our energy system and rely more heavily on electricity, the value of reliability and resilience is increasing. 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."

"As a leading player in the distributed energy resources market, Endurant has created significant value for our clients through our ongoing focus on innovation and unique ability to integrate multiple technologies," said Tom Chadwick, CEO of Endurant. "The energy industry is capital intensive and complex. With the strategic advantages LS Power brings us, we can realize 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. We extend our gratitude to our customers and partners for their continued support as we enter the next phase of our growth with LS Power."

Today’s announcement underscores LS Power’s focus on investments that leverage its considerable power-market expertise in developing and commercializing leading-edge clean energy solutions. As an established infrastructure manager with over 30 years of experience, LS Power intends to invest a substantial amount of additional capital to advance Endurant’s offering of fully-funded energy solutions. Endurant, as well as LS Power’s other industry-leading distributed energy resource companies, including CPower Energy Management and EVgo, are actively driving the acceleration of the nation’s transition to clean energy and a lower carbon future.

Endurant has been at the forefront of innovative and sustainable energy solutions, having designed and built marquee distributed clean energy projects across the country. These include its New York City portfolio of battery energy storage systems for Con Edison as part of New York State’s Reforming the Energy Vision initiative; the first fuel cell microgrid system in Connecticut; and Walgreens’ first net-zero carbon store, in Evanston, Illinois. In addition, Endurant is advancing a development portfolio of ground-breaking eco-district projects in California.

Endurant will continue to benefit from its seasoned executive team, led by CEO Tom Chadwick, and its 25 existing employees. Additionally, plans are already underway to expand the organization significantly to accelerate its growth and execute its vision of becoming North America’s go-to provider of sustainable distributed energy solutions.

Endurant is headquartered in Chicago, with offices in New York City as well as Anaheim and West Hollywood, California.

About Endurant Energy:

Endurant Energy develops and owns reliable, resilient, clean and cost-effective on-site energy infrastructure solutions across the US. It has expertise in a wide range of solutions including renewable thermal systems at single building or district scale, fuel-based technologies for resiliency, solar + storage solutions and an integrated offering for eco-districts. Services include planning, financial structuring, design and construction. Asset management services include operations and maintenance. By integrating solutions into clients' operations, Endurant is enabling the future of sustainable distributed energy. For more information, please visit endurant.com and follow us at @endurantenergy.

About LS Power:

LS Power is a development, investment and operating company focused on the North American power and energy infrastructure sector. Since its inception in 1990, in addition to its development of over 660 miles of high voltage transmission, LS Power has developed, constructed, managed or acquired more than 45,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired and battery energy storage projects. Additionally, LS Power actively invests in businesses focused on renewable energy and fuels, as well as distributed energy resource platforms, such as CPower Energy Management, Endurant Energy and EVgo. Across its efforts, LS Power has raised in excess of $47 billion in debt and equity financing to support North American infrastructure. For more information, please visit www.LSPower.com and follow us at @lspowergroup.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210506005697/en/

Contacts

Media
For LS Power:
Steven Arabia
Government Affairs and Media Relations
sarabia@lspower.com

For Endurant Energy:
Emma Walker
VP, Commercial Development
ewalker@endurant.com

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