US renewable power and demand response solutions provider Priority Power Management Inc on Tuesday said it has acquired the energy procurement, consulting and solar development business of compatriot Affordable Gas & Electric Company LLC (AGE).
The acquisition, the value of which was not disclosed, will boost Priority Power’s presence in the Midwest energy markets and help it further grow its own solar development activities.
Based in Illinois, the acquired business provides energy management, energy transition and sustainability solutions and also offers community solar schemes, behind-the-meter solar and co-generation solutions. Efficiency services such as lighting retrofits are also part of the offerings. The business has clients in Illinois and Ohio, including municipalities, and serves more than 1,000 commercial and 125,000 residential customers.
“AGE’s energy procurement aggregation business and energy transition initiatives perfectly complement the expanding suite of services that Priority Power, through Satori, provides to our customers in the Midwest,” said David Wiers, President of Satori Energy. The latter became part of Priority Power in 2021.
Priority Power itself has a client base of more than 7,000 people. The company is backed by Oaktree Capital Management and Ara Partners.