In this paper, we propose an efficient algorithm to reduce the voltage noises for on-chip power/ground (P/G) networks of VLSI. The new method is based on the sequence of linear programming (SLP) method as the optimization engine and a localized scheme via partitioning for dealing with large circuits. We show that by directly optimizing the decap area as the objective function and using the time-domain adjoint method, SLP can deliver much better quality than existing methods based on the merged time-domain adjoint method. The partitioning strategy further improves the scalability of the proposed algorithm and makes it efficient for large circuits. The resulting algorithm is general enough for any P/G network. Experimental results demonstrate the advantage of the proposed method over existing state-of-the-art methods in terms of solution quality at a mild computation cost increase.