Agilitas Energy enters Texas market via acquisition
In Massachusetts, Agilitas Energy has agreed to acquire a portfolio of six standalone energy storage system (ESS) projects in the Greater Houston area from Gulf States Renewable Energy, subsidiary of GSR Energy. The firm noted that the deal value approximates $75 million and accelerates the company’s growth outside of the Northeast as part of its national expansion plan. The acquisition and new market entry will add 60 megawatts (MW) to Agilitas Energy’s renewable energy and battery storage project pipeline of more than one gigawatt. The projects will operate in The Electric Reliability Council of Texas (ERCOT), which manages the flow of electric power to more than 26 million Texas customers—representing about 90% of the state’s electric load. “Texas has always represented the holy grail of energy and is one of our key expansion markets because it’s a leader in energy production, energy consumption and renewables. With this new foothold, our Agilitas Energy team is taking a pivotal step to build value-added energy solutions to a market increasingly burgeoning with renewables,” said Barrett Bilotta, President, CEO and Cofounder of Agilitas Energy.
