Palm Energy Acquires Power Portfolio of Behind The Meter from NRG Energy

Florida, US-based energy solutions and services provider Palm Energy, LLC has acquired Behind the Meter solutions from US power company NRG Energy, Inc. (NYSE: NRG) to utilise its Virtual Utility IQ to provide reliability and energy cost savings, the company said.

Terms of the transaction were not disclosed.

The acquired portfolio includes approximately 15 MWs of commercial and industrial customers located in PJM and New England, which will increase Palm Energy's managed MWs in those markets.

Palm Energy will own, operate, maintain, and optimise the microgrids to reduce energy costs while providing reliability to the customers and the grid.

Palm Energy LLC offers a single-source solution for customer's energy needs by optimising BTM assets through its 24/7 Network Operations Center and Virtual Utility IQ platform.

Palm also utilises parent company, e2 Companies' Patented R3Di System to provide resiliency and reliability to utilities and C and I customers through an ESG offering that combines safe and reliable fast-discharge batteries with ultra-low emission continuous rated natural gas engines that are ready for Renewable Natural Gas or can be modified to utilise Hydrogen blends.

Palm Energy is a company of e2 Companies.