Energy optimization firm Priority Power said it completed its acquisition of the regulatory advisory and Texas-based renewable energy offtake and consulting business of AB Power Advisors.
Terms were not disclosed.
The acquisition was the third for Priority Power in the past 18 months, and its second in the past 60 days.
AB Power Advisors offers regulatory coverage of the ERCOT market, and advises on commercializing renewable generation projects for large commercial and industrial customers. In the past year, Priority Power has grown to 160 employees, with offices across Texas, as well as in Chicago.
In 2021, Priority Power acquired energy procurement and consulting firm Satori Energy. And earlier this summer, it acquired AGE, an energy management services and solar development firm with clients in Illinois and Ohio.
Priority Power is backed by funds managed by Oaktree Capital Management and Ara Partners. It serves some 7,000 clients, totaling $2.7 billion in energy spend, and has more than $300 million of energy projects completed, with another $1 billion in energy infrastructure in various stages of development.