Constellation Expands Existing Retail Solar Business with Acquisition of PFMG Solar LLC
October 10, 2018
BALTIMORE -- Constellation, an Exelon company and a leading retail energy supplier, announced today that it has acquired PFMG Solar LLC, a subsidiary of Spear Point Energy, LLC. Founded in 2009, PFMG Solar develops solar power systems for school districts, government agencies and other public-sector customers
“This purchase is a natural expansion of our existing retail solar business,” said Jim McHugh, CEO, Constellation. “It enables us to grow our solar footprint in California, the most active U.S. solar market, and extend our Constellation Offsite Renewables (CORe), energy efficiency and other retail energy offerings to new markets.”
Constellation has worked with Southern California-based PFMG Solar to develop and install 42 of the more than 100 megawatts of solar generation that it has completed over the last decade.
“PFMG Solar and Constellation have enjoyed a productive and collaborative relationship over the past several years,” said Jorge E. Vargas, executive vice president for Spear Point Energy LLC. “We look forward to Constellation’s continued success as a leader in the solar industry nationwide.”
“We wish all the best to our PFMG Solar employees as they make this transition,” said Sam Houston, CEO, Spear Point Energy LLC. “We’re confident that this group will be a valuable addition to an already strong Constellation team.”
Constellation is a leading competitive retail supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. Constellation's family of retail businesses serves approximately 2 million residential, public sector and business customers, including three-fourths of the Fortune 100. Baltimore-based Constellation is a subsidiary of Exelon Corporation (Nasdaq: EXC), the nation's leading competitive energy provider, with 2019 revenues of approximately $34 billion, and more than 31,000 megawatts of owned capacity comprising one of the nation's cleanest and lowest-cost power generation fleets. Learn more at www.constellation.com or on Twitter at @ConstellationEG.
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