LS Power Grid Discusses Offshore Wind Power with New Jersey Business & Industry Association

EAST BRUNSWICK, N.J., March 30, 2022 /PRNewswire/ -- Electric transmission developer LS Power Grid told a meeting of the New Jersey Business & Industry Association (NJBIA) that if New Jersey is going to achieve its ambitious clean energy goals, it must find the most efficient and cost-effective way to deliver offshore wind power to the state's onshore grid.

"The state needs a high quality, resilient and reliable offshore wind energy transmission system that is also cost effective," said Lawrence Willick, executive vice president of New Jersey-based LS Power, parent of LS Power Grid. "We can deliver exactly what New Jersey needs – at a cost that is at least $1 billion less than other competing proposals. Reliability matters, but so does cost. We need to transparently address both points to advance New Jersey towards its clean energy goals."

A leading electric transmission developer, LS Power Grid, part of New Jersey-based LS Power, is one of 13 private sector companies that have responded to the state's request for proposals on how best to connect offshore wind power to the state's aging onshore electrical grid. Currently, the New Jersey Board of Public Utilities and the regional grid operator, PJM Interconnection, are evaluating these proposals.

Leading wind energy developers, energy transmission companies and state representatives attended the NJBIA meeting, which took place this past Friday, March 25 in Trenton. For more details about LS Power Grid's proposals for New Jersey and its previous successes in delivering major transmission projects on schedule and within budget, see this press release and visit the company's website dedicated to New Jersey offshore wind energy transmission at https://CleanEnergyGateway.com.

About LS Power Grid
LS Power Grid, a leading electric transmission company, is an advocate for transparent and competitive processes to plan, build and own transmission infrastructure. These processes encourage innovative solutions, facilitate the integration of renewable resources, and lower costs. For information, please visit www.LSPowerGrid.com.

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 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