New York-based EnergyHub, which offers a distributed energy management resources platform, has acquired Resideo Grid Services, a virtual power plant developer and manager.
The companies say the acquisition reflects a growing industry shift toward a single integrated distributed energy resource management system platform for utilities to manage virtual power plants (VPPs) that include EVs, batteries, and other distributed energy resources.
“As utilities face rising demand, they’re using VPPs for fast, cost-effective, flexible capacity,” said Seth Frader-Thompson, CEO of EnergyHub. “Resideo Grid Services provides DER management services to over two dozen utilities and markets, and has built a strong reputation in demand response. Together, we now manage over 2.5 million DERs on one platform, allowing any utility to orchestrate any DER to meet evolving grid needs.”
EnergyHub’s platform serves 55 million utility customers at APS, Duke Energy, Eversource, National Grid, and others.
The parties did not disclose the terms of the transaction.
The deal comes on the heels of several other VPP-related mergers and acquisitions this year, including another by EnergyHub in September, the purchase of Bridge to Renewables, an EV-telematics specialist with 500,000 connected electric vehicles. The deal was seen as a way for EnergyHub to better integrate EV charging into utility virtual power plants.
NRG Energy purchased CPower earlier this year, as part of its $12 billion acquisition of CPower’s parent, LS Power. CPower is a major player the commercial and industrial VPP market.
Resource Innovations, a portfolio company of Morgan Stanley Capital Partners, acquired Shifted Energy, a virtual power plant platform in Hawaii.
In Australia, AGL Energy acquired Tesla’s South Australia Virtual Power Plant, one of the country’s largest residential VPPs, made up of about 7,000 Tesla batteries and 25 MW of solar.
Direct Relief’s Latest Microgrid Project to Save Healthcare Facility $40,000/annually
Humanitarian aid organization Direct Relief has completed its 25th resilience project, this one a solar and storage microgrid at Winters Healthcare, a federally qualified health center in Yolo County, California.
The project was developed by American Microgrid Solutions and installed by GRID Alternatives, funded by a $534,938 grant from Direct Relief.
The system, which includes a 57-kW solar array, a 220-kWh battery and a 200-kW generator, is expected to offset nearly half of the building’s annual electricity use, saving Winters Healthcare $40,000 a year.
Direct Relief predominantly operates in California but also has funded microgrids elsewhere in the US, including Puerto Rico.
Getting More Jetson-like with Electric Aviation
Archer Aviation is moving us a little closer to a Jetson’s travel reality with plans to create an electric air taxi network in South Florida.
Archer envisions people zipping over Florida’s congested highways to reach popular destinations in Miami, Fort Lauderdale, Boca Raton, and West Palm Beach via 10-20-minute electric flights. The network will also offer travel between regional airports.