Updated by Staff

ARLINGTON, VA -based GridPoint, Inc. and Standard Renewable Energy (SRE) have announced that the companies have entered into an agreement for GridPoint to acquire SRE. GridPoint expects to close the transaction in the first quarter of 2010, subject to customary closing conditions.

Boulder-based Standared Renewable Energy provides solar and related renewable energy installations to the commercial and residential markets along  the Front Range, but is in the process of relocating to the Stapleton area of Denver following the agreement. GridPoint has built a name in the smart grid sector. The company’s products and services enable energy producers and consumers to manage the transformation to a smart grid, with software applications that integrate, aggregate and manage distributed sources of load, storage and generation.

“GridPoint solutions empower utilities, businesses and consumers to optimize the production and consumption of electricity,” said Peter L. Corsell, CEO, GridPoint. “SRE’s expertise in renewable energy integration solutions supports our vision for products and services that deliver a more efficient and clean 21st century power system.”

According to GridPoint, the acquisition of SRE would enhance its existing renewables integration software offerings and augment the company’s commercial and industrial sub-metering and energy management product suite with additional renewables delivery and integration products and services capabilities. SRE would also expand GridPoint’s base of residential, commercial and industrial, and government customers.

“We are proud to become part of the GridPoint team,” said John Berger, CEO, Standard Renewable Energy. “SRE enables our customers to take control of their energy costs by providing turnkey solutions from lighting and weatherization to solar and wind alternatives. By bringing these innovative teams together, we are able to provide greater and deeper value to our customers, partners, and business owners across the nation.”