LS Power to acquire the renewable energy business of Algonquin Power & Utilities for $2.5bn.

LS Power, an energy company, agreed to acquire the renewable energy business of Algonquin Power & Utilities, a renewable energy and regulated utility conglomerate, for $2.5bn. "We are pleased to announce this important transaction with LS Power, which is the result of a highly competitive strategic sale process. This major milestone, coupled with our previously announced agreement to support the sale of our Atlantica shares, delivers on our plan to transform AQN into a pure play regulated utility, optimize our regulated business activities, strengthen our balance sheet, and enhance our quality of earnings. We are confident that our path towards a pure play regulated utility supports our objective to create long term value for our customers and shareholders," Chris Huskilson, Algonquin Power CEO.