Constellation Energy to acquire demand response company CPower.
18 Sep 2010
Constellation Energy, the $15.6-billion Fortune 500 energy company, yesterday signed an agreement to acquire CPower, a leading energy management and demand response provider.
This acquisition comes a month after Constellation signed an asset purchase agreement with Boston Generating to acquire its 2,950-megawatt fleet in the New England region, for about $1.1 billion. (See: Constellation Energy to buy Boston Generating power plants for $1.1 billion)
CPower manages approximately 850 megawatts of demand response capacity that can be dispatched in energy markets throughout North America. The transaction would expand Constellation Energy's total demand response capacity to 1,500 megawatts.
Privately-held CPower headquartered in New York, designs and manages programmes that allow commercial, utility and public sector companies to reduce electricity demand during peak demand periods.
The company is authorised to manage and aggregate demand response capacity programmes in New York, New England, the Mid-Atlantic states, California, Texas and Ontario, Canada.
Baltimore-based Constellation is a leading supplier of energy products and services to wholesale and retail electric and natural gas customers.
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