LS Power entered into a partnership with The Landfill Group, LLC, a North Carolina based developer and operator of landfill gas projects, to jointly develop a portfolio of landfill gas-to-renewable natural gas projects throughout the United States. In addition, LS Power acquired an interest in a landfill gas-to-renewable natural gas (RNG) project in Lawrence, Kansas operated by The Landfill Group, LLC.
The operating and development projects have long-term contracts with host landfills and convert landfill gas gathered onsite into pipeline-quality RNG. The RNG is then procured by utilities, gas marketers, compressed natural gas vehicle owners and others who are shifting toward renewable fuels with the goal of reducing greenhouse gas emissions.
“Evolving consumer preferences coupled with the utility, regulatory and legislative push to decarbonize our energy systems are driving growing demand for natural gas with green attributes,” said David Nanus, Co-Head of Private Equity at LS Power. “We are excited about partnering with The Landfill Group, a leading RNG project developer with decades of landfill gas experience, to help advance these initiatives.”
“This partnership represents LS Power’s initial investment into the broader renewable fuels market, where we anticipate expanding opportunities as decarbonization efforts continue to increase,” said Joe Esteves, CFO and Co-Head of Private Equity at LS Power. “Reduction in the carbon intensity of the energy/power system is a secular long-term trend and one that is reflected by investments we have made over the years, which also include renewable generation, energy storage and distributed energy resource platforms such as CPower and EVgo.”
Initial investments from the LS Power/The Landfill Group partnership will target sites in Georgia, Iowa, Pennsylvania, North Carolina and South Carolina. The partnership will leverage LS Power’s broader energy infrastructure platform expertise in project development, commodity, environmental attribute and credit risk management, natural gas marketing, public policy and market development, and project finance.