Spearmint Energy Acquires 150 Mw Battery Energy Storage Project In Ercot Power Market
Jul 28, 2022•almost 3 years ago
Acquiring Company
Spearmint Energy
Acquired Company
150 MW Battery Energy Storage Project
Description
Spearmint Energy (“Spearmint” or the “Company”), a next-generation renewable energy company enabling the clean energy revolution through battery energy storage, today announced that it has acquired a 150 MW battery energy storage project (the “Project” or “Revolution”) from Con Edison Development, a wholly-owned subsidiary of Con Edison Clean Energy Businesses.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed