Announces Creation of Dedicated Renewable Business
California, July 16, 2008 - LS Power Group ("LS
Power"), a privately owned power industry developer,
investor and manager, announced today the creation
of a dedicated business unit which will pursue the
development, acquisition, and ownership of renewable
energy projects. Mike Segal, Chairman and Chief
Executive Officer of LS Power stated, “We have
received significant feedback from our load-serving
customers and they are interested in renewable
electricity solutions. While most renewable
resources still require state or federal incentives
to be competitive with traditional forms of
generation, as the technologies evolve, they are
becoming increasingly cost effective. These
customer and technological dynamics, when coupled
with the political determination to increase
renewable resource utilization, is an attractive
backdrop for creating a scalable renewable
business has been staffed to pursue the development
of wind, solar photovoltaic and solar thermal
renewable resources. As part of this initiative, LS
Power is: securing and permitting suitable
generation sites; developing renewable energy
related transmission projects; pursuing
acquisitions; developing and commercializing new
renewable technology solutions; and investing in
renewable technology and equipment companies.
LS Power has
assembled a team of professionals with a proven
track record to lead its renewable business unit.
John King will head LS Power’s renewable energy
initiative. Functional responsibilities have been
aligned under the following experienced power sector
- Scott Healy –
- Howard Taylor
– solar thermal;
- Joe Gorberg –
solar photovoltaic; and
- Eric Crawford
– renewable project development.
King, Executive Vice President.
Mr. King joined LS Power in 2005 and has thirteen
years experience in the independent power business.
Since joining LS Power, Mr. King has had
responsibility for LS Power’s Western business
activities. Prior to joining LS Power, Mr. King was
a Senior Vice President of Calpine Corporation.
From 1995 to 2005, he held various positions with
Calpine, including roles as head of International
Business, and in charge of business development in
the Western U.S.
Scott Healy, Senior Vice President.
Mr. Healy has over 17 years experience in power
generation development and finance, including the
successful development or financing of over 4,500 MW
of gas fired generation projects and over 2,000 MW
of wind generation projects. Prior to LS Power, Mr.
Healy held senior management roles at Kenetech,
Calpine, Enron, PPM Energy, Orion Energy and Orion
Howard Taylor, Vice President.
Mr. Taylor has more
than 20 years in the power generation and utility
infrastructure development businesses, responsible
for the development, financing or construction of
more 6,000 MW of fossil fuel projects,
significant water and wastewater projects, and water
and fuel transportation projects, both within the
U.S. and internationally. Prior to joining LS
Power, Mr. Taylor held management roles at General
Electric, Calpine Corporation, and Nalco, leading
various development efforts.
Joseph Gorberg, Vice President.
Mr. Gorberg joined LS Power in 2006 and is
responsible for renewable and fossil generation
origination and energy management/trading in the
Western U.S., and most recently, managing LS Power’s
solar PV business activity. Mr. Gorberg has over 22
years experience in the energy and petroleum
industry. Prior to LS Power, Mr. Gorberg managed
Calpine Corporation’s western term risk management
and trading and national retail portfolios.
Crawford, Vice President.
Mr. Crawford joined
LS Power in 1997. Mr. Crawford has extensive
experience in leading development activities for
large-scale electric generation projects, including
power plant siting, conceptual design, permitting,
regulatory approvals, public relations, government
relations, contract negotiations and project
(408) 572 - 1300