Energy analytics firm Enverus has acquired Madrid-based RatedPower, expanding its footprint in the solar power and electrical infrastructure analysis, feasibility, design and engineering segment, the firm said Sept. 14.
Enverus CEO Jeff Hughes called RatedPower an automation, efficiency and digitalization trailblazer in the solar market.
“Our common denominator is truth in data, strategic planning and optimizing efficiencies,” Hughes said in a statement. “As of today, we have taken a major leap forward in adding to our solar planning capabilities enabling us to strategically advise customers where and how to design their plants to maximize production.”
The acquisition follows Enverus’ March 2021 purchase of Denver-based Energy Acuity, which provides information and intelligence on the renewable power and clean energy markets. The Austin, Texas-based SaaS company’s latest acquisition broadens its geographical reach internationally, growing its current base of 440 power market participants mostly in North America.
“We have taken a major leap forward in adding to our solar planning capabilities enabling us to strategically advise customers where and how to design their plants to maximize production.”—Jeff Hughes, Enverus
With 1,400 users worldwide, RatedPower helps companies in the solar industry find ways to lower their levelized cost of energy and maximize the potential of photovoltaic plants through use of automatization and optimization as well as digital technologies and analysis. Enverus said the company has more than 80 employees and has assisted in 20,000 projects, contributing to the production of 43 gigawatts of power and helping mitigate 17 million tons of CO₂.
“We were born with the vision of digitalizing the renewable energy industry and making solar the world’s main energy source to accelerate the energy transition,” RatedPower CEO Andrea Barber said in the statement. “Our mission aligns perfectly with Enverus and our combined strengths will place us in a privileged position to reach that vision while powering the new, global energy economy.”
The company, founded in 2017, will become part of Enverus’ power and renewables business unit. Its integration will be overseen by Bernadette Johnson, general manager of power and renewables for Enverus.
In October 2021, RatedPower raised $6 million in Series A funding led by the cleantech pioneer VC, Seaya.
2022-11-21 - Shares in Ranger Oil, which operates in the Eagle Ford Shale, jumped over 5% on Nov. 18 after Reuters reported the company’s sale efforts.
2022-11-01 - With an agreement to transport and sequester CO₂ from a massive clean ammonia project in Louisiana, Denbury surpasses its CO₂ transportation deal target goal for 2022.
2022-10-11 - Alongside news of the FireBird acquisition news, Diamondback Energy also unveiled a target to sell at least $500 million of noncore assets in support of the Midland, Texas-based company’s pledge to reward shareholders.
2022-10-17 - Continental Resources entered a merger agreement on Oct. 17 to be acquired for $74.28 per share, which represents a 15% premium to the closing price on June 13—the day before Hamm’s family disclosed their initial $70 per share proposal.
2022-11-08 - LRM V’s initial acquisition in the STACK Play was also announced in conjunction with new equity commitments from Kayne Energy Private Equity.