LS Power Announces Key Senior Management Promotions

Changes Reflect Its Gas-fired Generation Platform's Scale and Critical Role In Accelerating a Clean, Reliable, And Affordable Electric Grid

NEW YORK, April 26, 2022 /PRNewswire/ -- LS Power today announced executive leadership changes designed to further align the company's efficient and flexible gas-fired generation fleet with its focus on accelerating the decarbonization of the U.S. energy sector and greater economy.

As part of this effort, Nathan Hanson was promoted to the new position of President, LS Power Generation. In this capacity, Hanson will oversee LS Power's 13,000 MW conventional generation fleet. Hanson, who joined LS Power in 2011, previously served as Managing Director of Energy Management and Regulatory Affairs.

The following members of Hanson's team were also promoted to these roles:

• Anthony Hammond, Senior Vice President of Asset Management
• Marc Kline, Senior Vice President of Energy Marketing and Trading
• Marjorie Philips, Senior Vice President of Wholesale Market Policy

"It's abundantly clear to people serious about decarbonizing the electric grid – in a manner that maintains reliability and affordability – that efficient, flexible gas-fired generation will be needed for the foreseeable future," said LS Power CEO Paul Segal.

"Our executive leadership announcements reflect the critically important role our generation fleet will play in the safe and reliable operation of a grid with massive renewables penetration. LS Power's quick-responding gas generation platform is well positioned to help accelerate the energy transition by managing the intermittency of weather dependent renewables such as wind and solar power," Segal said.

"Our team is focused on ensuring that the operations and commercial strategies across LS Power's fleet match the need to rapidly decarbonize the grid while keeping the lights on, and that wholesale power market policies recognize the vital service that certain conventional assets will play in the energy transition," Hanson said.

In addition to its flexible gas-fired generation platform, LS Power manages a growing family of clean energy businesses, which collectively are accelerating the energy transition. These clean energy investments include:

• REV Renewables, an industry leader in the acquisition, development and operation of renewables and energy storage focused on decarbonizing electricity supply while maintaining affordability, reliability and resilience
• EVgo, the nation's largest public fast-charging network for electric vehicles and first powered by 100% renewable energy
• Endurant Energy, a provider of sustainable, resilient and cost-effective distributed energy infrastructure solutions
• CPower Energy Management, an industry leading distributed energy resource management solutions provider
• Primary Renewable Fuels, LLC, a landfill gas-to-renewable natural gas development and operating platform
• Rise Light & Power, New York City's largest power generator and developer of clean energy infrastructure
• LS Power Transmission, established developer of more than 660 miles of high-voltage transmission lines that enhance grid reliability and efficiency and connect renewable generation to load centers

About LS Power
LS Power is a development, investment and operating company focused on the North American power and energy infrastructure sector. Since its inception in 1990, in addition to its development of more than 660 miles of high voltage transmission, LS Power has developed, constructed, managed or acquired in total more than 45,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired and battery energy storage projects. LS Power actively invests in distributed energy resource platforms, such as CPower Energy Management, Endurant Energy and EVgo, as well as Waste-to-Renewable Generation and Fuel initiatives. Additionally, LS Power invests in renewables and energy storage through REV Renewables. Across its efforts, LS Power has raised in excess of $48 billion in debt and equity financing to support North American infrastructure. For more information, please visit www.LSPower.com.

SOURCE LS Power