PIC Group receives O&M services for Patriot Hydro portfolio
ATLANTA, March 08, 2023–(BUSINESS WIRE)–PIC Group, a global power and energy services company, has received the Operations and Maintenance (O&M) contract for the Patriot Hydro portfolio from owner LS Power. Under the terms of the O&M agreement, PIC Group will have responsibility for transition and operational services, including full care, custody and control oversight of day-to-day operations and maintenance services of the Patriot Hydro portfolio through 2025. The Patriot Hydro portfolio is in place including a fleet of (42) hydroelectric power plants in the (11) states.
“PIC Group’s proven track record of successfully managing complex programs and larger portfolios of assets uniquely positions them to support the transition to operate and service 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 O&M increases the value of assets with the goal of meeting or exceeding the common goals of compliance with all regulations and requirements, performance through high availability and reliability, and overall O&M cost management assets from Patriot Hydro,” said Frank Avery, President and CEO of PIC Group.
PIC Group, Inc., founded in 1988, is dedicated to creating value by providing global energy services to facilities on four continents – North America, South America, Asia and Africa. PIC provides O&M (maintenance, custody and control) services, commissioning and commissioning, documentation and training, and staffing services, serving the power generation, oil and gas, petrochemical, pulp and paper, and converting 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). Visit (www.picgroupinc.com) for more information
Marubeni Corporation and its consolidated subsidiaries utilize their broad business networks both within Japan and abroad to conduct imports and exports (including trade with third countries) and domestic operations covering a variety of businesses including consumer goods, food, agriculture, chemicals, energy and metals as well Machinery and infrastructure for energy companies.
LS performance is a development, investment and operations company focused on the North American power and energy infrastructure sector. Since its inception in 1990, LS Power has developed, built, managed or acquired more than 46,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas and battery energy storage projects, of which approximately 17,000 MW are currently operational. 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 has developed and operates over 680 miles of high voltage transmission, with an additional over 100 miles and multiple substations under construction. As part of this effort, LS Power has raised $50 billion in debt and equity financing to support North American infrastructure. As of 2021, assets under LS Power’s control have avoided 80.67 million tonnes of CO2e, equivalent to almost 187 million barrels of unused oil or over 17.5 million cars taken off the road for a year. Visit www.LSPower.com for more information.
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