On August 9, 2024, LS Power, a leading player in the North American power and energy infrastructure sector, agreed to acquire the renewable energy business of Algonquin Power & Utilities Corp. (AQN) in a strategic move to expand its renewable energy portfolio. The acquisition includes 44 wind and solar assets across the United States and Canada, totaling over 3,000 megawatts (MW) of generating capacity. The portfolio also features an 8,000 MW pipeline of wind, solar, battery energy storage, and renewable natural gas projects at various development stages. Approximately 2,700 MW of the assets are in the U.S., with the remaining 300 MW located in Canada. This transaction is expected to close in Q4 2024 or Q1 2025, pending regulatory approvals. Milbank LLP acted as the legal advisor, while Scotiabank and BMO Capital Markets Corp. served as financial advisors to LS Power.