Engie North America has purchased Genbright, a US-based company engaged in the integration of distributed energy resources (DER). Financial terms of the deal have not been divulged by either company.
Genbright currently manages a portfolio of more than 50MW of DERs that includes front and behind-the-meter solar, demand response and energy storage.
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The deal will enable Engie and its DER businesses to further its growth in the US.
Engie Storage CEO Christopher Tilley said: “This acquisition coupled with Engie Energy Marketing NA’s power market operations allow Engie Storage to deliver co-optimised energy storage services seamlessly that span from behind-the-meter peak demand shaving and energy arbitrage to in-front-of the-meter wholesale electricity market capacity, energy, and ancillary services, all from a single energy storage asset.
“This unique, integrated capability allows us to unlock significant additional value for our customers.”
Since 2017, the two companies have been working together to deliver competitive services into wholesale electricity markets.
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By GlobalDataIn February 2018, the Federal Energy Regulatory Commission voted electric storage participation in markets operated by Regional Transmission Organizations and Independent System Operators.
With this acquisition, Engie Storage will be able to effectively provide capacity, energy and ancillary services.
Genbright CEO Joseph G Crespo said: “Engie has played a leading role in market development from shaping policy to new business models designed to get more storage on the grid. We look forward to supporting Engie North America’s energy storage and generation portfolio.”
