CPower Announces Close of Centrica U.S. Demand Response Business Acquisition

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Oct 06, 2022, 13:03 ET

With 6.3 GW of Capacity at More Than 17,000 Sites Across the U.S., CPower Is A National Leader in Unlocking the Value of Customer-Powered Distributed Energy Resources to Provide Grid Balancing and Flexibility

BALTIMORE, Oct. 6, 2022 /PRNewswire/ -- Today, CPower Energy Management ("CPower") announced it has completed the acquisition of the U.S. demand response division of Centrica Business Solutions, ("Centrica"), becoming a national leader in unlocking the value of Distributed Energy Resources (DER)
--- now with 6.3 GW of capacity across more than 17,000 sites --- to drive grid balancing and energy flexibility. CPower helps DER owners with flexible capacity across big box retail, commercial real estate, data centers, crypto mining sites, education, healthcare, government, manufacturing and more --- earn revenue for participating in demand response solutions that bolsters the grid.

"CPower has always been committed to a customer-first culture. With the recent passage of the Inflation Reduction Act, businesses are looking for ways to capitalize on their clean energy investment to ensure they are part of the solution toward a flexible, clean and dependable energy future. We look forward to welcoming our new customers and strategizing around their resiliency and sustainability goals, while helping them drive even more value from their existing energy management strategy and assets," said John Horton, President and CEO, CPower.

Upon the close of the transaction, previous Centrica demand response customers will join CPower, and will be able to tap the company's industry expertise and technology to support their energy portfolios across the U.S.

The acquisition provides more capabilities and choice for customers looking to maximize the value of their DERs as they now have access to CPower's solutions and artificial-intelligence powered technology, EnerWise^TM Site Optimization, which automates energy assets across multiple energy market and utility programs simultaneously.

"As interest in DERs grows, so does innovation that enables more participation. Customers are seeking automated solutions that provide them the greatest return. Our CPowered^TM Technology Solutions helps customers future proof their business, providing actionable intelligence to optimize their DER strategies today while preparing for new opportunities tomorrow," said Glenn Bogarde, Senior Vice President – Sales, CPower.

This acquisition is a complement to CPower's continued organic growth including four new demand response solutions in California, Maine and Texas announced earlier this summer. CPower also recently expanded across Illinois and MISO with a new demand response solution for Ameren Illinois commercial and industrial customers.

About CPower Energy Management

CPower Energy Management is the leading, national energy solutions provider guiding customers towards a clean and dependable energy future. We manage approximately 6.3 GW of capacity across the U.S., forming virtual power plants that are good for the grid and great for the community. CPower maximizes the value of our customers' electricity loads, facility assets and distributed energy resources while delivering flexibility, capacity, and other ancillary services to the grid. With more than two decades of experience, we've grown to offer more than 60 local energy programs, partnering with grid operators and utilities to serve more than 17,000 sites, delivering approximately 286,000 metric tons of CO₂ reductions in 2021 alone. CPower is based in Baltimore, Maryland and is owned by LS Power, a development, investment, and operating company focused on the power and energy infrastructure sector. For more information, visit: www.cpowerenergymanagement.com.

About Centrica Business Solutions

Centrica Business Solutions is part of Centrica, a leading energy services and solutions provider founded on a 200-year heritage of serving people. We analyze, finance, install, operate & optimize energy, working across energy sources to transform the way businesses acquire, consume and manage their power.

Centrica Business Solutions will continue to focus on supporting business customers in North America through growth of its core sustainable energy services business, enabling them to balance the demands of sustainability and cost management through energy services.

SOURCE CPower Energy Management