Generac Power Systems acquires PowerPlay Battery Energy Storage from SunGrid Solutions
Generac Power Systems (NYSE: GNRC), a prominent global provider of energy technology solutions, announced its acquisition of PowerPlay Battery Energy Storage Systems, a division specializing in commercial and industrial (C&I) projects from SunGrid Solutions Inc. This strategic move is set to enhance Generac’s portfolio of energy solutions, emphasizing resilience, efficiency, and sustainability for its commercial and industrial clients.
PowerPlay is known for its turnkey Battery Energy Storage Systems (BESS) solutions, catering to C&I projects up to 7 MWh. The acquisition is part of Generac’s broader strategy to provide a comprehensive ecosystem of products that support businesses in achieving their energy objectives.
Aaron Jagdfeld, President and CEO of Generac, expressed enthusiasm about the acquisition: “This acquisition supports our commitment to offer a more complete ecosystem of products and solutions to domestic commercial & industrial customers, empowering them to achieve their energy objectives with a strong emphasis on resilience, efficiency, and sustainability.”
Jody Snodgrass, CEO of SunGrid, also remarked on the transaction, stating, “We are incredibly proud of PowerPlay and the talented team behind its success. This acquisition by Generac is a testament to the innovative spirit and dedication at SunGrid. Our commitment to advancing the battery energy storage industry has been instrumental in developing the PowerPlay product portfolio, and we are thrilled that Generac recognizes its value and future success. This strategic move allows SunGrid to increase focus on our utility-scale EPC business, driving growth and innovation.”
Battery energy storage systems are crucial in today’s energy landscape, where the increasing adoption of distributed solar power, the electrification of facilities, and fluctuating utility rates pose challenges to energy management. BESS systems allow for the storage and later use of energy, enhancing the resilience and efficiency of on-site distributed energy systems across various sectors including retail, manufacturing, and healthcare.
The transaction, which closed on June 26, 2024, will see the PowerPlay business continue its operations out of Cambridge, Canada. This site will also serve as a dedicated research and development facility for Generac’s C&I BESS solutions. Meanwhile, SunGrid Solutions will continue to expand its EPC operations across North America, focusing on larger-scale energy storage projects ranging from 10 MWh to 1 GWh.
The acquisition of PowerPlay by Generac represents a significant development in the energy technology landscape. By integrating BESS into its offerings, Generac is poised to meet the growing demand for reliable and sustainable energy solutions in the commercial and industrial sectors. This move not only enhances Generac’s product lineup but also strengthens its position as a leader in the transition to more sustainable energy practices.