LS Power's REV Renewables calls off IPO

September 21 (Renewables Now) - REV Renewables, a platform formed by energy infrastructure investor LS Power, has formally abandoned its plan to go public on Nasdaq, filing with the Securities and Exchange Commission (SEC) for a withdrawal of its registration statement for an initial public offering (IPO).

The company said it does not wish to undertake the previously proposed offering, noting that the move was consistent with the public interest and the protection of investors.

REV Renewables filed for the IPO at the beginning of 2022. The New York-based entity was formed by LS Power in 2021 to acquire, develop, own, and operate renewables and energy storage assets. It has a 2.8-GW operating portfolio and a substantial development pipeline.

The company’s portfolio includes assets, such as the 132-MW Kibby wind farm in Franklin, Maine, the 62.7-MW Pavant solar plant in Fillmore, Utah, and the 250-MW Gateway battery storage site in San Diego County, California, among others.