Update: Priority Power Acquires Energy Procurement & Solar Development Business of Affordable Gas & Electric

August 22, 2022

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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Priority Power Management, Inc. ('Priority Power' or the 'Company') announced that it successfully completed its acquisition of the energy procurement, consulting and solar development business of Affordable Gas & Electric Company, LLC ('AGE').

EnergyChoiceMatters.com was first to report that Priority, under its Satori Energy brand, had acquired certain retail energy broker contracts from AGE, but Priority's formal announcement confirms that the transaction includes AGE's broader book of retail broker contracts, as well as AGE's solar development business

AGE's energy management services business serves hundreds of municipalities, Chambers of Commerce, businesses and industrial clients throughout Illinois and Ohio.

"For a decade, AGE has been aggregating commercial, industrial and municipal electricity customers into strategic 'bulk energy loads' to deliver cost effective and efficient energy procurement negotiating strength for its 125,000+ residential and 1,000+ commercial customers. AGE offers a complete suite of energy management and solutions focused on energy transition and sustainability. AGE also offers community solar programs, behind the meter solar solutions, co-generation solutions and other energy efficiency services such as lighting retrofits," Priority said

"This transaction, further increases Priority Power’s footprint in Midwest energy markets, where Priority Power, through Satori Energy (acquired in 2021), is a leader in energy procurement and consulting. The acquisition of AGE’s solar development business further bolsters Priority Power’s fast growing solar development business and its commitment to be leader in energy transition innovation," Priority said

"Priority Power, backed by Oaktree Capital Management and Ara Partners, serves over 7,000 clients, totaling $2.7 billion in energy spend, across nearly every industry and vertical, and has well over $230 million of energy infrastructure projects completed, and over $1 billion in energy," Priority said

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