Agilitas Energy Launches Financial Trading Business for Electricity
Company enters ERCOT market with new business line as part of ongoing national expansion
WAKEFIELD, Mass.–(BUSINESS WIRE)–Agilitas Energy, the largest integrated developer, builder, owner and operator of distributed energy storage and renewable energy systems in the northeastern U.S., today announced it has established a dedicated energy trading function to support and enhance the company’s physical activities in the Electric Reliability Council of Texas (ERCOT) market. Specifically, the company will participate in ERCOT’s nodal market to help manage both price and congestion uncertainty.
Since its inception, Agilitas Energy has been a leader in the distributed generation renewable energy market through the strength of its dedicated in-house engineering, procurement and construction (EPC) and asset management groups. The company is able to maximize the yield of its projects by controlling them across their entire lifecycle. This vertically integrated philosophy is now being extended to nodal energy trading. Agilitas Energy plans to expand its financial trading and asset management businesses in additional markets, such as California Independent System Operator (CAISO).
“We see nodal energy trading as being a natural progression for Agilitas Energy,” said Barrett Bilotta, President, Co-Founder and CEO of Agilitas Energy. “We are able to leverage our asset management team’s deep expertise to generate better financial returns by expanding into an adjacent market and are confident this will only spur further growth for the company as we expand nationally.”
Agilitas Energy is currently developing and constructing more than one gigawatt (GW) of renewable energy and energy storage projects throughout the United States, including a portfolio of energy storage projects in Houston, Texas as its foray into the ERCOT market. The company anticipates launching its ERCOT operating strategy and platform when its first Houston project reaches commercial operation at the end of 2023.
Agilitas Energy is quickly expanding its footprint nationally through greenfield origination, acquisition and strategic partnerships with high-quality developers. The expansion is being fueled by the $350 million equity investment by CarVal Investors last year. The investment allows Agilitas Energy to leverage its asset management expertise, including both operations and maintenance (O&M) and power market trading. Agilitas Energy will continue to both acquire and originate new projects across the country.
To learn more about how Agilitas Energy can deliver an energy solution or serve as a partner on a renewable project, please visit https://agilitasenergy.com/contact.
About Agilitas Energy
Agilitas Energy is a leading renewables and energy storage company with a mission to accelerate the transition to clean energy. As the largest integrated developer, builder, owner and operator of energy storage and solar PV systems in the northeastern U.S., Agilitas Energy manages the entire end-to-end lifecycle of the projects that deliver predictable, cost-efficient, clean energy for off-takers, utilities and municipalities. The company has a U.S. pipeline of more than one gigawatt of renewable energy and energy storage projects. To learn more, please visit: https://agilitasenergy.com/.
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