LS Power, a leading power and energy infrastructure company, announced this Thursday it completed the acquisition of GI Energy; a distributed energy infrastructure and clean energy solutions company. After the acquisition GI will be relaunched as a new company called Endurant Energy.
Firstly, the rebranding intends to further support and expand Endurant’s position in the distributed energy market, in which the company has been a leader; also, as a developer, owner and operator.
Secondly, Endurant is a full-service provider of cost-effective, and resilient sustainable energy solutions. Across its portfolio it serves a wide range of industrial consumers in various sectors; including education, commercial, industrial, real estate; also, healthcare, hospitality and public utilities.
Thirdly, its portfolio of solutions include also a wide range of technologies, such as microgrids, battery energy storage systems; also, integrated eco-districts, large-scale microgrids and smart city infrastructure.
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LS Power offering strategic advantages to Endurant
In fact, Endurant has been at the forefront of innovative and sustainable energy solutions; it has designed and built marquee distributed clean energy projects across the country. Some of its projects include New York City’s portfolio of battery storage systems for Con Edison; the first fuel cell microgrid in Connecticut; as well as a ground-breaking eco-district projects in California.
On the other hand, the acquisition and the relaunching of this company, speaks about LS Power’s focus on investments that leverage its considerable power-market expertise; particularly, in the developing and commercializing leading-edge clean energy solutions. Indeed, LS Power intends to invest a substantial amount of additional capital to advance Endurant’s offering of fully-funded energy solutions.
In addition, Tom Chadwick, CEO of Endurant, said. “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; also, building our portfolio of distributed energy assets, and providing project financing solutions for our customers and partners.”
Finally, he remarked. “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.”