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Morgan Stanley Capital Partners Acquires Resource Innovations

Resource Innovations

Morgan Stanley Capital Partners acquires Resource Innovations, a leading tech-enabled energy efficiency and sustainability services company, aiming to drive growth and innovation in the clean energy transition.

Posted April 2, 2024

New York and San Francisco, April 2, 2024 – Investment funds managed by Morgan Stanley Capital Partners (“MSCP”), the middle-market focused private equity team at Morgan Stanley Investment Management, today announced it has acquired Resource Innovations (“RI” or the “Company”), a leading tech-enabled services company focused on energy efficiency and sustainability. Under the terms of the agreement, MSCP acquired a controlling interest in the Company from BV Investment Partners and certain other shareholders. Founder Lauren Casentini will continue as the Chief Executive Officer of RI and remain a significant equity holder in the Company following the completion of the transaction. 

Headquartered in the San Francisco Bay Area, RI provides advisory services, program management services and software to utility, government and corporate clients in the areas of energy efficiency and decarbonization with the goal of lowering energy costs, reducing waste, cutting greenhouse gas emissions and improving grid resiliency. The Company is a recognized leader in working with utilities to develop and implement both traditional energy efficiency programs, including lighting, weatherization and controls, as well as emerging growth areas such as electric vehicle charging, distributed solar and demand response.

Commenting on the acquisition, Eric Kanter, Managing Director and Head of Industrial Services at MSCP, said: “Resource Innovations’ tech-enabled services help turn energy policy goals into reality. The Company supports core energy efficiency needs while seeking to address the next phase of clean energy transition challenges being faced across the United States. We believe the Company’s record of consistent growth and ability to expand into these emerging areas with tremendous market potential have paved the way for continued opportunity. Under industry veteran Lauren Casentini’s leadership, we believe this purpose-built team is poised for the next step in helping communities on their energy transition journey. We look forward to working together as we seek to advance RI’s leadership position and continue expanding the company through organic growth and M&A.”

Ms. Casentini stated, “MSCP’s investment is a recognition of the tremendous growth we have experienced over the past several years and validates the hard work our team does to deliver innovative, differentiated solutions for our customers. I look forward to working together with Morgan Stanley Capital Partners to continue to grow our Company.”

CLICK HERE to read the full press release.

 

Energy Solutions Job Opportunity: Director, Growth Management and Strategy (Remote - US)

Energy Solutions


Posted April 1, 2024

Energy Solutions is seeking a full-time Business Development Director to join our Growth Management & Strategy team. In this role, you will lead the development of competitive proposals for a range of clients, lead intentional business growth, and work closely with consultants on pipeline forecasting. You will drive sales pipelines from lead to contract. We are seeking a Director with a proven track record of increasing sales and revenue, who values and demonstrates Energy Solutions’ mission to deliver large-scale environmental impacts.

Our turnkey products accelerate decarbonization; enable distributed energy resources; transform markets to accelerate technologies with beneficial societal impacts; and provide technical and policy support to set smart energy standards at the local, state, and national levels.  Simply put, our market-based products deliver environmental and resource solutions that are better for business and better for society.

Responsibilities include but are not limited to: 

  • Manage and grow team of four proposal managers and one business analyst.
  • Lead competitively bid proposals with a range of clients including investor-owned utilities, municipal, state, and federal agencies, etc.
  • Develop and manage execution of intentional business development plans for decarb work including Codes and Standards, Distributed Energy Resources, Building Electrification, and Clean Heat work:
  • Collaborate with the consultants to:

CLICK HERE to read the full job description and apply.

 

Sonoma Clean Power Job Opportunity: Chief Financial Officer

Sonoma Clean Power


Posted April 1, 2024

Summary Description
As our Chief Financial Officer, you will be a strong partner to both the CEO and COO to form the Senior Management Team, providing hands-on leadership in the overall management and strategic planning of the organization.

The CFO will oversee a number of the organization’s key functions, including risk management, finance and accounting, ratemaking and revenue planning, and regulatory compliance. Priorities for this CFO position include evaluating and advising on financial hedging strategies and other significant risks, managing prepayment transactions of power purchase agreements and ensuring regulatory compliance.

The ideal person for this position will have an advanced finance degree and 15 years of relevant experience with a working knowledge of governmental agencies. Visit www.sonomacleanpower.org to learn more about SCP. To apply, please email a cover letter, resume, and references as a single PDF to: [email protected].

CLICK HERE to read the entire job description.

 

Piclo launches grid flexibility solution in Australia through partnership with CitiPower and Powercor

Piclo


Posted March 22, 2024

London, 19 March 2024 – Piclo, the global marketplace for flexibility services and market access, has been chosen by leading distribution network service providers (DNSPs) CitiPower and Powercor, to deliver the cloud-based local flexibility platform in Victoria, Australia. This marks Piclo’s entry into the Australian energy market.

As Victoria continues its rapid energy transition, with population growth, home electrification, and rise of EVs, the need for grid flexibility has never been more important. 

Piclo’s flexibility marketplace, Piclo Flex, enables network service providers such as Powercor to source flexible electricity from sellers during times of high demand or low supply. This not only helps to remove constraints and reduce the costs for networks to serve customers, but also supports in the decarbonisation of grids, providing flexible electricity over expensive bulk power from traditional coal or gas powered sources. 

CitiPower and Powercor deliver electricity to around 1.27 million Victorian homes and businesses in Melbourne’s Central Business District (CBD), inner suburbs, and about two-thirds of regional Victoria. By partnering with Piclo, CitiPower and Powercor will further explore third party options to solve network constraints, seeking flex capacity across their networks.      

Piclo CEO and Co-founder, James Johnston, said:

“We’re thrilled to announce our partnership with CitiPower and Powercor, which signals our launch into Australia, as the country continues to embrace a rapid energy transition and the potential of distributed energy resources. This represents a significant milestone for Australia as it embarks on its flexibility journey..”

CitiPower and Powercor Head of Network Planning, Andrew Dinning, said:

“Having seen Piclo’s work with other networks internationally, we’re excited to partner with them in 2024. This project will help to further develop our own capabilities as a Distribution System Operator and open more of our network constraints to build the market for flex in Australia.”

CLICK HERE to read the entire press release.

 

Leap Unveils New Platform Capabilities to Scale Virtual Power Plants

Leap

2024 winter product release introduces new features to empower technology companies to grow their virtual power plant customer revenue three times faster.

Posted March 22, 2024

SAN FRANCISCO, March 21, 2024 - Leap, the leading virtual power plant (VPP) platform, announced today the launch of new product functionalities to unlock additional value for distributed energy resource (DER) technology companies and crucial flexible support for the electric grid. Leap’s latest product release includes advanced features to simplify customer enrollment and further automate VPP operations for its 80+ technology partners. 

“Successfully authorizing customer DERs to transact in energy programs is one of the major hurdles preventing VPPs from scaling,” said Susie Dirks, VP of Product and Engineering at Leap. “Leap’s 2024 winter product release focused on reducing friction throughout the customer enrollment process, enabling our partners to easily identify what they need to do to ready their VPP portfolios ahead of the critical summer season.”

Featured in the release is a new Actions Dashboard, providing increased visibility into the steps required to integrate DERs into demand response and other grid services programs. The release also includes a streamlined user experience for Leap Connect, an app that reduces complex utility authorization processes into a few simple clicks for customers, as well as new customizations for embedding the app in customer recruitment campaigns. 

As part of the updates, Leap has expanded its API suite to include new automation capabilities for integrating DERs and reengaging customers during the authorization process. Automation is key to VPP customer growth: Leap’s API-integrated partners grow their VPP portfolios and revenue three times faster than non-integrated peers. 

“Leap’s software solution complements Energy Toolbase’s suite of products to help our customers maximize grid services revenue streams,” said Nathan Gutzmann, Product Manager, Acumen EMS at Energy Toolbase. “We’re excited to leverage Leap’s new functionalities across a variety of geographies and programs to capture the full financial, sustainability and grid resilience benefits of virtual power plant deployment during the peak summer season.”

Leap’s new product capabilities are available for use now by Leap partners. All released items will be showcased in Leap’s upcoming webinar. 

CLICK HERE to read the entire press release.

 
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