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LS Power raises $6B for data center power infrastructure expansion

The firm’s LS Power Equity Partners IV surpassed its initial $4B target and will focus on operating power assets, including natural gas plants, renewables, and battery storage.

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LS Power has raised $6 billion for its LS Power Equity Partners IV, significantly above its initial $4 billion target, as AI data center demand drives a surge in electricity needs, according to Bisnow.

The fund will primarily pursue operating assets, including natural gas power plants, renewable energy resources, and battery storage, extending the company’s reach in power infrastructure across the U.S.

LS Power also plans to invest in infrastructure that supports demand response, which enables large electricity users like data centers to temporarily cut consumption during grid stress in exchange for compensation, the outlet said.

Bisnow added that LS Power Chief Operating Officer Darpan Kapadia told Bloomberg that the opportunity set has never been bigger, given how capital intensive the business is.

Latest closeNat gas $3.073 ▲1.2%

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