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Retail Supplier Officially Announces Investment to Support Expansion
Star Energy Partners LLC officially announced that it has received an investment that will allow the expansion of its operational footprint to residents and businesses in the AEP Ohio and FirstEnergy Ohio service territories.
By June 2014, Star Energy Partners expects to provide electricity service in the Akron, Canton, Columbus, Cleveland, Toledo and Youngstown areas. The company is currently supplying electricity to customers in the Duke Ohio and Dayton Power & Light service territories, which includes Cincinnati and Dayton.
"With this influx of capital, Star Energy Partners can now expand its operations to offer highly competitive energy rates in the AEP Ohio and FirstEnergy Ohio service territories," said Tony C. Banks, Star Energy Partners CEO. "We will continue to expand our existing business in Ohio and to other competitive retail energy markets."
Star Energy Partners said that the newly secured capital, "will also enable Star Energy Partners to launch a suite of innovative products and services, which will include a carbon footprint analysis of the energy conservation measures that their customers might employ and exclusive membership in their Energy Cost Awareness Program (eCAP)."
Specifically, effective February 1, 2014, upon a recapitalization of the ownership interests in Star Energy, Solon Green Energy Solutions, LLC acquired a controlling interest in Star Energy. Solon Green is a single member subsidiary of SFSP Holdings
Solon Green Energy Solutions' investment in Star Energy had been first disclosed this fall in a FERC filing for authorization of the transaction.
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March 3, 2014
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Copyright 2010-13 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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