BALTIMORE and HOUSTON, July 20, 2021 /PRNewswire/ -- Leading, national energy solutions provider CPower Energy Management ("CPower") and Sunnova Energy International Inc. ("Sunnova") (NYSE: NOVA), one of the leading U.S. residential solar and storage service providers, today announced they have won the Top Project of the Year Award from Environment + Energy Leader (E+E Leader). CPower and Sunnova received the award for CPower enrolling and managing Sunnova's residential solar portfolio into the New England Independent System Operator's (ISO-NE) Forward Capacity Planning. Sunnova secured 85 MW in an ISO-NE auction in February 2021, offering competitive renewable energy capacity to help meet the region's future energy needs. The generated solar energy will support the capacity market by supplying clean energy to end users and removing strain from the grid during peak demand.
"More frequent weather extremes and grid-level renewable power are calling for more flexible on-site resources to help support grid reliability. All energy users and their DERs will play a role in grid modernization," said John Horton, president and CEO, CPower. "We take pride in our ability to make these resources more competitive while driving toward a cleaner and more reliable energy future through our work with partners like Sunnova."
"Barriers for DER participation in U.S. power markets continue to be removed and new value streams are becoming more viable – this project is an example of how DERs can be competitive in the market," said Michael Grasso, EVP, Chief Marketing and Growth Officer at Sunnova. "By partnering with CPower, Sunnova will now be able to supply renewable energy to the New England capacity markets and help create a more stable grid by managing and balancing demand and supply through on-site generation."
In addition to being the largest manager of demand-side solar assets in ISO-NE, CPower is a North America industry leader managing more than 4.3 GW of DER, such as curtailment, solar, back-up generation and energy storage for more than 1,850 customers across 11,000+ sites. This is the second year in a row that CPower projects have been recognized by E+E Leader, reinforcing the value that CPower brings in maximizing the value of our customers' DER by facilitating participation in demand-side management programs.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Sunnova's future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expect," "plan," "anticipate," "going to," "could," "intend," "target," "project," "contemplates," "believe," "estimate," "predict," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Sunnova's expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding DERs ability to be competitive in the market, Sunnova's ability to help create a more stable grid by managing and balancing demand and supply through on-site generation, and other statements regarding the future. Sunnova's expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks regarding our ability to forecast our business due to our limited operating history, the effects of the coronavirus pandemic on our business and operations, results of operations and financial position, our competition, fluctuations in the solar and home-building markets, availability of capital, our ability to attract and retain dealers and customers and our dealer and strategic partner relationships. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Sunnova's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2020 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021. The forward-looking statements in this release are based on information available to Sunnova as of the date hereof, and Sunnova disclaims any obligation to update any forward-looking statements, except as required by law.
About CPower Energy Management
CPower Energy Management is a leading, national energy solutions provider guiding customers towards a clean and dependable energy future. We maximize the value of our customers' electricity loads, facility assets and distributed energy resources. With more than two decades of experience, we've grown to offer more than 50 local energy programs partnering with grid operators and utilities to more than 11,000 sites, delivering approximately 7,000 metric tons of CO2 reductions in 2020 alone. Our presence across North America allows us to manage more than 4.3 GW of customer capacity and provide energy to the grid when it's needed most. CPower is based in Baltimore, Maryland and is owned by LS Power, a development, investment and operating company focused on the power and energy infrastructure sector. For more information, visit: www.cpowerenergymanagement.com.
Sunnova Energy International Inc. (NYSE: NOVA) is a leading residential solar and energy storage service provider with customers across the U.S. and its territories. Sunnova's goal is to be the source of clean, affordable and reliable energy with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted®.
About the Environment + Energy Leader Awards
For nearly a decade, the Environment + Energy Leader Awards have celebrated excellence in the world of environmental, sustainability and energy management. Award winners are truly buzz-worthy, and companies that sport a Top Project or Top Product of the Year Award badge are known to be the best of the best. When other companies are seeking a sustainability or energy management solution, they know that E+E Product of the Year Award winners offer a significant group of products, vetted by experts, to peruse for help in making their decisions. Project of the Year Award winners are known to illustrate how sustainability and energy management projects can successfully help other companies improve the bottom line.
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SOURCE CPower Energy Management