LS Power Acquires ENGIE Services U.S; 50+ Year Legacy Company Returns to Its Roots as OPTERRA Energy Services to Expand Efficiency and Renewables Offerings

OPTERRA's National Reach Includes 9,000+ Energy Projects, 375 MW of Solar, 24 Microgrids
and $3B Guaranteed Energy Cost Savings to Date

NEW YORK and OAKLAND, Calif., June 12, 2025 /PRNewswire/ -- LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector, today announced the completion of its acquisition of ENGIE Services U.S. As part of the purchase, ENGIE Services has rebranded to its previous name, OPTERRA Energy Services ("OPTERRA"). OPTERRA has more than 50 years of operational experience and a deep track record, building upon LS Power's long history of delivering reliable, cost-effective and innovative energy solutions.

OPTERRA provides comprehensive energy solutions including energy efficiency upgrades, renewable energy systems, energy storage, microgrids, operations and maintenance, HVAC and lighting as well as measurement and verification services.

Since 1974, OPTERRA has completed more than 9,000 public sector projects across North America. Notable examples include:

• The modernization of 72,000 streetlights for the District of Columbia
• Chula Vista Elementary School District's 8.1 megawatts of solar installed across 48 sites and microgrid for emergency backup.
• The City of Milpitas' integrated energy and water savings program, which is projected to save the city more than $30 million.

Additional customers include the Department of Veterans Affairs, Broward County, Florida, the City of Arlington, Texas, and the Oregon Community Unit School District in Illinois. In all, OPTERRA has installed/delivered 375 MW of solar power and 24 active microgrid projects, supporting cities, counties, federal markets and educational institutions.

"Meeting America's growing energy demand will require a 'more-of-everything' approach—and the energy services market is an integral piece of that puzzle," said LS Power CEO Paul Segal. "The addition of OPTERRA brings a rare combination of leadership talent, technical expertise and trusted customer relationships that enhance LS Power's energy solutions platform. Their cutting-edge capabilities in energy efficiency services and low-carbon offerings are a strategic fit as we continue to expand our portfolio of power and infrastructure solutions."

OPTERRA joins LS Power's existing portfolio of energy infrastructure companies that provide energy efficiency and grid reliability services. Across these efforts, along with renewables and flexible gas generation, LS Power is both enhancing the nation's power supply capacity and providing smart, customer-focused demand-side services.

"Reintroducing OPTERRA under LS Power marks an exciting new chapter for our legacy team dedicated to serving the public sector," said Courtney Jenkins, CEO of OPTERRA Energy Services. "We're building on a proven foundation to deliver innovative, leading-edge technology solutions that make energy efficiency and low carbon projects accessible and impactful. Through our unique range of in-house experts, we empower our customers to meet aggressive goals around financial savings and energy resiliency that have a positive ripple effect across the communities we serve, fueling accelerated growth for both our customers and our mission."

OPTERRA is headquartered in Oakland, California, and employs nearly 300 professionals.  OPTERRA's services and solutions have helped customers ranging from municipalities, K-16 education, special districts and state and federal agency partners achieve over $3 billion in guaranteed energy cost savings to date.

The transaction closed on June 12, 2025, following the satisfaction of customary closing conditions, including regulatory approvals in the United States.

About OPTERRA Energy Services:
OPTERRA partners with public sector stakeholders to meet the unique goals of communities nationwide. Our team customizes projects with top-tier technology to deliver lasting impact, enhancing fiscal savings and community engagement. With over 50 years of experience, we ensure our customers' long-term success through tailored solutions that support their vision. By deeply engaging and understanding specific goals, we deliver on the mission our customers envision. For more information please visit: www.opterraenergy.com

About LS Power:
Founded in 1990, LS Power is a premier development, investment, and operating company focused on the North American power and energy infrastructure sector, with leading platforms across generation, transmission and energy expansion solutions. Since inception, LS Power has developed or acquired 50,000 MW of power generation, including utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired facilities. Through its transmission business, LS Power Grid has built 780+ miles of high-voltage transmission with an additional 350+ miles currently under construction or development. LS Power actively invests in and scales businesses that are meeting the growing needs of the energy expansion, including electric vehicle charging, demand response, microgrids, renewable fuels and waste-to-energy platforms. Over the years, LS Power has raised more than $65 billion in debt and equity capital to support North American infrastructure. For information, please visit www.LSPower.com.

Media Contacts:
Prosek Partners for LS Power
[email protected]

OPTERRA Energy Services
Anne Smith
[email protected]
408-313-8089

SOURCE LS Power