Centrica acquires Europe’s demand response aggregatorStaff Writer | November 3, 2017
Centrica has acquired REstore, Europe’s demand response aggregator, for €70 million (£62 million) in cash.
Acquisition REstore manages 1.7GW of peak load
The company’s world-leading software and international patents are currently used by over 150 of Europe’s largest energy users, including chemical, steel and food manufacturers.
The business will form part of Centrica’s international Distributed Energy & Power unit, which provides energy insight, asset optimisation and energy solutions to large energy users under the Centrica Business Solutions banner.
Through this acquisition, demand response aggregation will become a core part of the offer to customers and is expected to represent a significant growth opportunity for Centrica as global electricity markets evolve.
REstore brings key capabilities in asset optimisation, one of the five strategic pillars of Centrica Business, and is complementary to those provided by Centrica’s previous acquisitions of Panoramic Power, Neas Energy and ENER-G Cogen.
The acquisition will also further expand Centrica’s geographic footprint into new European markets. ■