Start-up Texas REP Inks Wholesale Supply Agreement With, "Tailored Focus On Next-Generation Retail Solutions"

July 26, 2022

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Reporting by Paul Ring • ring@energychoicematters.com

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ENGIE Energy Marketing NA, Inc. ("ENGIE Energy Marketing"), a subsidiary of ENGIE S.A. (ENGIE), and MI Texas LLC ("MI"), a subsidiary of Mothership Incubator LLC, a retail electricity provider (REP), today announced that they have entered into a facility agreement for wholesale supply procurement in ERCOT (Electric Reliability Council of Texas), "with a tailored focus on next-generation retail solutions."

As previously reported, MI Texas offers a white-label REP service, with a focus on facilitating distributed generation and renewable energy developers' access to retail customers

The companies said that, "Unlike a run-of-the-mill credit and supply deal, this innovative facility structure encapsulates MI's unique value proposition: providing white-label REP services for distributed energy resources (DERs) and creatively structured electricity supply solutions for complex, non-residential loads such as datacenters. With a commitment to growing renewable energy adoption, solving unique credit challenges, and simplifying ways for residential homeowners to deploy DERs, Mothership is primed to disrupt the electricity space."

"Mothership will use this facility, which provides innovative products, renewable hedges, flexible credit, and varied tenor terms, to hedge supply requirements for their unique customer base. More specifically, this facility will enable Mothership to focus on innovating new retail solutions that monetize DERs such as solar, storage, and EVs and creating new contract structures for flexible load resources such as bitcoin mining, manufacturing, and schools," the companies said

Mothership CEO Maura Yates said, "The Mothership team sees enormous potential in maximizing value streams from DERs and delivering creative solutions to the market in order to drive cost savings, comprehensive risk management, and sustainability."

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