Satori Energy Pledges Support to National Community Solar Partnership
CHICAGO–(BUSINESS WIRE)–Satori Energy, a full-service energy consulting provider and wholly-owned subsidiary of Priority Power Management, LLC (“Priority Power”), has pledged its support to the U.S. Department of Energy’s National Community Solar Partnership (NCSP) in advance of the NCSP annual summit. Priority Power is backed by funds managed by Ara Partners Group (“Ara Partners”), a Houston-based private equity firm specializing in industrial decarbonization investments, and funds managed by Oaktree Capital Management, L.P. (“Oaktree”), a leader among global investment managers specializing in alternative investments.
As part of its pledge, Satori Energy has committed, in conjunction with its subsidiary and affiliate companies, to fulfill a cumulative 50 MW of community solar subscriptions by the end of 2025. This is equivalent to avoiding approximately 57,000 Metric Tons of Carbon Dioxide Equivalent, or approximately 12,400 passenger vehicles driven for one year, based on average solar capacity factors and EPA guidelines. Satori Energy will leverage its strong community and client relationships, developed over almost 20 years, to achieve this goal. Additionally, the Satori team is committed to dedicating significant resources to increase awareness, education, and ultimately, adoption.
Satori Energy President David C. Wiers commented, “It is an honor to support the NCSP and its important work. We believe that increasing awareness and adoption of community solar will help the environment, increase equity, and reduce utility costs. We have been highly involved with community solar for several years and we are excited to double down on these efforts over the years to come.”
Satori Energy and affiliate companies have a longstanding commitment to assist in decarbonization efforts in the United States, helping to reduce dependence on resources that emit greenhouse gases and carbon emissions.
Satori Energy
Satori Energy is a wholly-owned subsidiary of Priority Power Management, LLC, a full-service energy consulting firm based in Arlington, Texas. Satori proudly serves over 55,000 commercial and residential accounts across the United States, Canada, and Mexico. Our client-centric approach and relationships with over 65 of the top retail electricity and natural gas suppliers allow us to provide unparalleled value for our clients and has resulted in Satori Energy being repeatedly recognized as a leader within the deregulated energy industry. For additional information, please visit www.satorienergy.com.
Priority Power
Priority Power is an independent energy solutions provider focused on energy infrastructure, energy transition program management, market intelligence operations, and energy structuring. Priority Power serves over 6,700 clients, totaling $2.7 billion in energy spend and 94 TWh of electricity managed across 31 states. The Company prioritizes energy efficiency and seeks to leverage its engineering, procurement, construction, and market expertise to aid in decarbonization of the industrial economy. For more information on Priority Power, please visit www.prioritypower.com.
Ara Partners
Ara Partners is a private equity firm specializing in industrial decarbonization investments. Ara Partners invests in the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors, seeking to build businesses that provide significant decarbonization impact. It operates from offices in Houston, Texas, Boston, Massachusetts, and Dublin, Ireland. For more information on Ara Partners, please visit www.arapartners.com.
Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $166 billion in assets under management as of December 31, 2021. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,000 employees and offices in 19 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.
About The National Community Solar Partnership
The National Community Solar Partnership (NCSP) is a coalition of community solar stakeholders working to expand access to affordable community solar to every U.S. household and enable communities to realize meaningful benefits, such as reduced energy burden, increased resilience, and workforce development. For more information about the NCSP please visit: www.energy.gov/communitysolar/about-national-community-solar-partnership.
Contacts
Katherine Tappan
Investor Relations
501-951-5282
ktappan@prioritypower.com
