Source Power Company Announces Acquisition of a Customer Contracts Portfolio From Buy Energy Direct; Actively Seeks New Partners and Projects

Committed to providing low-cost, renewable energy to New York State residents

Source Power Company, a New York regulated energy supplier and community solar subscriber acquisition company, today announced the purchase of a portfolio of electricity supply customers in New York State. Source Power Company acquired the customer book from Buy Energy Direct, LLC.

"We are pleased to announce the purchase of a portfolio customer book from Buy Energy Direct," said Vincent Palmieri, Chief Operating Officer of Source Power. "The feedback from the market has been positive, and we see this as yet another signal that our hybrid product has been able to fill a void for a consumer product that offers the standard of value that aligns a meaningful savings with inclusive renewable energy programs that further the state's clean energy goals.

Palmieri added, "We continue to actively seek new development partners, books of business, and land suitable for development."

This latest acquisition follows on the heels of Source Power's purchase of a book of electricity supply customers in the "Niagara Mohawk Power Corporation" Service territory in New York. Source Power Company acquired that customer book from Renaissance Power & Gas, Inc last month. Source will honor the contract terms and conditions of the acquired customers.

For more information on how to get involved in new projects or become a partner, please contact our M&A department at manda@sourcepowerco.com/917-722-6141 with any opportunities.

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About Source Power Company

Source Power Company is a regulated Energy Service Company and Distributed Energy Resource Provider in New York State. Source Power provides innovative solutions that pair energy supply with renewable energy generation, providing a unique value proposition to customers and advancing the state's clean energy goals. With roots in the solar development industry through its sister company Source Renewables, Source Power sits strategically at the intersection of project finance, renewable generation, and energy supply. This allows Source Power to match solar generation with power consumers and use its vertical integration to ensure efficiencies are passed along to customers at competitive prices. Source Power represents a reboot of the retail energy industry and is on a mission to further the energy transition by changing the way people think about energy with an improved customer experience and innovative products and services that help advance clean energy goals and democratize those same benefits for all. Find out more about Source Power Company on its website: https://sourcepowerco.com/.

Media Contact:
Alyssa Pfitscher, Lansons
845-594-7290
alyssap@lansons.com

Source: Source Power Company

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Categories: Energy, Alternative Energy, Energy

Tags: Affordable Energy, Clean Energy, Community Solar