Swell Energy has acquired Renu Energy Solutions, with the goal of enabling VPP deployment in the Southeast and mid-Atlantic markets through the combination of Renu’s project development capabilities and Swell’s financing and technology platform.
“With the growing demand for renewable energy in the region, this transaction marks a pivotal milestone for both companies in furthering our shared mission to enable retail customers and utilities to collaboratively benefit from DERs,” says Suleman Khan, CEO of Swell.
“With Renu’s market leadership, there is an opportunity for us to work with interested utilities from the outset. Together, we are exploring how virtual power plants can enhance local grid needs and bring cost savings, greater resiliency and climate benefits to the communities we now collectively serve.”
The acquisition includes Renu’s solar and storage maintenance subsidiary, Sun Service Specialists, which maintains distributed energy resources) across the East Coast.
With Renu serving as a regional hub, Swell’s channel partner program provides other residential and commercial solar companies access to certain resources and offerings, including the opportunity to become VPP co-developers.