(Atlanta, GA) – PIC Group, a global power and energy service provider, has been awarded the Operation and Maintenance (O&M) Agreement for the Patriot Hydro Portfolio by owner LS Power. Under the terms of the O&M Agreement, PIC Group will have transitional as well as operational services responsibility to include full care, custody, and control overseeing day to day operations and maintenance services of the Patriot Hydro Portfolio through 2025. The Patriot Hydro Portfolio is comprised of a fleet of (42) hydroelectric power assets across the (11) states.
“PIC Group’s proven track record in successfully managing complex programs and larger portfolios of assets uniquely positions them to support the transition, operate and maintain the Patriot Hydroelectric fleet. We look forward to working with PIC Group with their professional, customer centric approach to operations and maintenance.” said Anthony Hammond, Senior Vice President, Head of Asset Management at LS Power.
“PIC Group’s systematic and knowledge-based approach to operations and maintenance adds value to the assets with the objective of meeting or exceeding the shared goals of compliance with all regulations and requirements, performance through high availability and reliability as well as O&M cost management across the Patriot Hydro assets.” said Frank Avery, President, and CEO at PIC Group.
PIC Group, Inc., founded in 1988, is dedicated to delivering value by providing global energy services to facilities across four continents – North America, South America, Asia and Africa. PIC provides O&M Services (Care, Custody and Control), Commissioning and Startup, Documentation & Training and Staffing services and serves the power generation, oil and gas, petrochemical, pulp and paper and manufacturing industries. PIC Group, Inc. is a wholly owned subsidiary of Marubeni Corporation, a Fortune Global 500 Company. Marubeni is a major Japanese sogo shosha (international trading company) and the third largest global independent power producer (IPP). For more information, please visit (www.picgroupinc.com)
Marubeni Corporation and its consolidated subsidiaries use their broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading), as well as domestic business, encompassing a diverse range of business including consumer products, food, agriculture, chemicals, energy and metals and power business machinery and infrastructure.
LS Power is a development, investment, and operating company focused on the North American power and energy infrastructure sector. Since its inception in 1990, LS Power has developed, constructed, managed, or acquired more than 46,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired, and battery energy storage projects, of which ~17,000 MW are currently operating. LS Power’s Energy Transition Platforms include CPower Energy Management, Endurant Energy, EVgo, Rise Light & Power, and REV Renewables, as well as Waste-to-Energy initiatives. In addition, LS Power developed and operates more than 680 miles of high-voltage transmission, with an additional 100+ miles and multiple substations under construction. Across these efforts, LS Power has raised $50 billion in debt and equity financing to support North American infrastructure. Through 2021, assets under LS Power control avoided 80.67 million metric tons of CO2e, equivalent to nearly 187 million barrels of oil not consumed or over 17.5 million cars taken off the road for one year. For more information, please visit www.LSPower.com.
