Commercial, Distributed Energy Resources, Energy Efficiency, Industrial, Distributed Generation, Solar, Wind - May 11, 2016
Southern ramps up clean energy services to C&I customers with PowerSecure deal
Utility behemoth Southern Co. got even deeper into the clean energy business May 9, when the Atlanta-based company announced the completion of its acquisition of distributed infrastructure company PowerSecure International.
The approximately $425 million deal instantly beefs up Southern Co.'s capability to meet the evolving needs of commercial and industrial customers; Wake Forest, N.C.-based PowerSecure, which is now a subsidiary of Southern, targets C&I companies with solutions that help them meet individual reliability, energy efficiency or green objectives.
Southern and other large U.S utility holding companies such as Duke Energy and Edison International have been steadily amassing renewable energy generation projects in recent years — a trend well-summarized by The Wall Street Journal on May 9 — in addition to searching for ways to better serve large energy buyers by offering associated clean energy services.
Power companies, too, have been fast-ramping up their clean energy offerings for C&I customers recently: On May 10, ENGIE announced its purchase of a 80% stake in California-based battery storage company Green Charge Networks, a move the company says will expand its offerings to C&I and public sector customers and reinforce its "strengths and skills in the activities of decentralized energy management, off-grid solutions and power reliability." ENGIE is the new name for GDF SUEZ, which manages a range of energy businesses in the U.S. and Canada through its North American business arm.
Get Part 2 from Richard Heath plus free thought leadership from experts at Insight Energy
- The Business of Standalone Grid-Scale Energy Storage in Northern States
- Green Lease Leaders: How Industrial Building Owners Use the Lease to Optimize Sustainable Business Practices
- Google Environmental Report 2019
- Webinar replay: Why finance should lead sustainability efforts
- Future Proof Your Business with integrated Storage, Solar, and Smart EV Charging