December 27 (Renewables Now) - New York-based energy company LS Power last week announced a deal to acquire for an undisclosed amount EVgo, the owner of a large network of electric vehicle (EV) fast chargers in 34 states.
The target’s public charging network in the US includes more than 1,250 fast chargers, all of which use 100% renewable energy.
LS Power expects the acquisition of EVgo from Vision Ridge Partners to be finalised in early 2020. After that, the EV charging company will operate as a stand-alone entity under LS.
“Today's news means that we can accelerate access to fast charging as we grow our network as part of the LS Power platform,” said EVgo chief executive Cathy Zoi.
LS Power develops, acquires and manages natural gas, coal, wind, hydro, solar and battery storage projects in the US and it also owns and operates high-voltage transmission lines.