White & Case LLP has advised Lightning Power on the repricing of its existing US$600 million revolving credit facility, a significant step for the company's financial strategy. This achievement aligns with Lightning Power’s broader goals of growing its diversified natural gas-fired power projects portfolio, which is owned by LS Power.
The repricing of the credit facility highlights Lightning Power’s financial stability and strengthens its capacity to meet the growing energy demands of the US economy. The company’s fleet of natural gas-fired power projects has been developed strategically to support the increasing need for reliable energy infrastructure across the country.
LS Power’s diversified approach includes baseload combined-cycle facilities and flexible combustion turbine peakers, making the company an important player in ensuring the stability and affordability of energy in the U.S. economy.
With growing energy demands driven by new technological developments like artificial intelligence and the rapid expansion of data centers, electrification, and the onshoring of manufacturing, Lightning Power’s fleet of flexible natural gas plants is strategically positioned to meet these challenges.
Paul Segal, CEO of LS Power, emphasized the importance of Lightning Power’s role in the broader energy landscape, stating:
“Lightning Power’s fleet of flexible natural gas plants is advantageously positioned to support the significant growth in power demand driven by artificial intelligence and data centers, electrification and the onshoring of manufacturing,” Segal said. “Lightning’s plants are critical infrastructure assets which underpin the U.S. economy and ensure the reliability and affordability of electricity, crucial to our businesses, hospitals and homes.”
Lightning Power’s growth and development have been strategically planned over several years to create a large-scale, diversified, and pure-play natural gas independent power producer (IPP). With a robust portfolio and the financial strength supported by its recent credit facility repricing, Lightning Power is well-positioned for continued success in the rapidly evolving energy market.
Nathan Hanson, President of LS Power Generation and CEO of Lightning Power, emphasized the company’s solid financial outlook:
“Lightning Power benefits from strong sector tailwinds, attractive market dynamics, a stable, visible cash flow profile, efficient low-cost assets and an experienced management team,” Hanson remarked. “We are confident that our ability to meet growing energy demand will continue to drive our success and position us for long-term growth.”
The US$600 million credit facility repricing marks a key milestone for Lightning Power and LS Power as they continue to lead the way in providing sustainable, reliable energy solutions. With the backing of a skilled legal team from White & Case and a growing portfolio of natural gas-fired power plants, Lightning Power is poised to meet the increasing energy demands of the U.S. economy for years to come.
As the demand for energy continues to rise, Lightning Power’s strategic positioning and robust financial foundation will be crucial in ensuring the reliability and affordability of electricity for businesses, hospitals, and homes across the nation.
LS Power, a prominent player in the North American power and energy infrastructure sector, has successfully completed the acquisition of Algonquin Power & Utilities Corp.’s renewable energy business. Lightning Power, part of LS Power, operates 18 natural gas-fired power projects. Since its founding in 1990, LS Power has developed, constructed, and managed over 47,000 MW of utility-scale energy projects, including solar, wind, hydro, battery energy storage, and natural gas-fired power generation.
The White & Case team that supported Lightning Power in this successful repricing was led by partners Yehuda Rubel, Justin Wagstaff, and Andrew Weisberg. The team also included debt finance associates Ryan Talbott and Mwangala Simataa, with law clerk Gabrielle Foster contributing to the matter. All of these professionals are based in New York.
White & Case LLP is a global law firm known for providing high-quality legal services to clients across a broad range of industries. Founded in 1901, the firm has grown to become one of the largest international law firms, with offices in over 40 locations worldwide. White & Case specializes in complex legal matters, including banking and finance, mergers and acquisitions, capital markets, dispute resolution, and regulatory compliance. The firm represents multinational corporations, governments, and financial institutions, offering expertise in cross-border transactions, international litigation, and arbitration. White & Case is renowned for its deep industry knowledge, innovative solutions, and commitment to delivering results for its clients.
