May 16 (Renewables Now) - The North American unit of French energy group Engie SA (EPA:ENGI) on Wednesday said it has acquired Genbright LLC, the manager of over 50 MW of distributed energy resources (DERs).
Massachusetts-based Genbright is focused on the integration of DERs into wholesale electricity markets, and owns photovoltaic (PV), demand response and energy storage assets. Its purchase will allow Engie North America to grow its DERs business in the US. The buyer said wholesale market bidding, scheduling, and dispatch optimisation capabilities will be fully integrated into the GridSynergy platform of its storage business.
“This acquisition coupled with Engie Energy Marketing NA’s power market operations allow Engie Storage to deliver co-optimized 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,” said Christopher Tilley, CEO of Engie Storage.
Engie Storage and Genbright have been partnering since 2017.