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Hanwha Energy Retail Supplier Formally Announces Powervine Acquisition, Marks Retail Expansion To PJM, Will Continue To Evaluate M&A Opportunities In PJM, ERCOT
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174 Power Global Retail Corporation, a wholly owned subsidiary of Hanwha Energy USA Holdings Corporation, formally announced its entry into competitive retail electricity markets within the PJM region.
As part of such expansion, 174 Power Global Retail Corporation, which operates Chariot Energy and Pumpjack Power in Texas, formally announced that it has acquired Powervine Energy, LLC and Powervine Energy MD, LLC, which had been first reported by EnergyChoiceMatters.com in June
Subject to applicable state licensing and regulatory requirements, the company will market and sell retail electricity under the Chariot Energy Northeast and Powervine Energy brands. Product availability, pricing and contract terms will vary by state.
"The expansion positions 174 Power Global Retail Corporation to serve residential, commercial and industrial electricity customers through licensed brokers, consultants and energy aggregators, as permitted under applicable state law," Hanwha Energy USA said
"Our entry into PJM is an important step in building a broader retail electricity platform capable of serving customers across key U.S. markets," said In Kyu Park, chief executive officer of 174 Power Global Retail Corporation.
"This expansion supports our strategy to build a stronger multi-brand retail electricity platform across competitive U.S. markets," said Mohsin Khoja, chief operating officer of 174 Power Global Retail Corporation. "We will continue evaluating organic growth and acquisition opportunities in PJM and ERCOT that broaden our reach, strengthen our capabilities and create long-term value."
Hanwha Energy USA stated, "Chariot Energy offers retail electricity products designed around transparent pricing, flexible options and a customer-focused experience. For larger energy users, the company supports customized electricity supply agreements, including fixed-price, index-based and structured products. It also provides tailored billing solutions for complex operations such as manufacturing facilities, data centers and other energy-intensive businesses."
174 Power Global Retail Corporation is the retail arm of Hanwha Energy USA, which supports companies across retail electricity, renewable energy, storage, power infrastructure, data center infrastructure and integrated energy solutions. Hanwha Energy USA is backed by Hanwha Group, a Fortune Global 500 company headquartered in South Korea.
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July 29, 2026
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Copyright 2026 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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