CarVal-backed Agilitas Energy to acquire six energy storage systems

• The value of the deal is about $75 million
• Agilitas Energy is a renewables and energy storage company
• The acquisition is Agilitas Energy’s largest acquisition since raising $350 million from CarVal Investors L.P. last year for the purpose of national expansion

Agilitas Energy, which is backed by CarVal Investors, has agreed to acquire a portfolio of six energy storage system projects in the Greater Houston area. The seller is Gulf States Renewable Energy, a subsidiary of GSR Energy.

The value of the deal is about $75 million.

The acquisition is Agilitas Energy’s largest acquisition since raising $350 million from CarVal Investors L.P. last year for the purpose of national expansion. The acquisition and new market entry will add 60 megawatts to Agilitas Energy’s renewable energy and battery storage project pipeline of more than one gigawatt.

“GSR Energy is honored to partner with Agilitas Energy to develop world-class battery storage projects in the Houston area—we look forward to helping accelerate the energy transition in this key region of North America.” said Mark Tholke, a managing principal of Gulf States Renewable Energy and GSR Energy, in a statement.

Agilitas Energy is a renewables and energy storage company.

Golden State Renewable Energy is a California-based project development company focused on behind the meter and strategically located front of the meter projects.

CarVal Investors is an established global alternative investment manager.