CPower Energy today named Michael D. Smith as Chief Executive Officer, following the announcement by CPower’s current President and CEO John Horton of his retirement. Smith is an accomplished energy leader whose expertise will further strengthen the company’s leading position in the rapidly evolving Distributed Energy Resource (DER) and Virtual Power Plant (VPP) markets. He will assume the role on July 25, 2023. Horton will then retire and act as an advisor to CPower, after helping to evolve the company into the nation’s largest DER monetization provider, with 6.3 GW of DER capacity at more than 19,000 customer sites across the U.S.
Smith brings more than 25 years of experience in the energy sector, with a proven track record of driving growth and delivering innovation. Most recently Smith was CEO of ForeFront Power, where he led the company’s core North American solar and energy storage business. Prior, he held a variety of commercial, strategy, venture investing and regulatory leadership roles in the energy sector, including with Exelon Corp. and Constellation.
Horton expressed his support for Smith and the future of the company: “It has been an honor to lead CPower for the past nine years, alongside our exceptional team. Together, we have built CPower and helped lead the energy transition while setting the industry benchmark for customer experience. I am confident that Mike will use his vast industry knowledge and strategic approach to build upon our achievements and drive the company to continued success.”
Smith shared his excitement for his new role and his plans for CPower: “I am thrilled to be joining the team at CPower, a company whose work is essential in ensuring a successful and reliable new energy economy. Thanks to John’s leadership and the strength of the entire team, the company has a strong foundation and is well-positioned to capitalize on the tremendous opportunities in the rapidly evolving distributed energy space. I am excited to work with the team to continue to expand CPower’s solutions to drive even greater impact for our customers.”
CPower is owned by LS Power, a development, investment and operating company focused on the power and energy infrastructure sector. David Nanus, President of LS Power Equity Advisors, expressed his gratitude to Horton and enthusiasm for CPower’s future: “Under John Horton’s leadership, CPower has grown to be the national leader in Distributed Energy Resource monetization, establishing itself as the trusted platform for energy users, technology providers, distributed generation portfolio owners and grid operators across the energy landscape. We are grateful for John’s dedication, strategic vision and unwavering commitment to CPower’s customers and team. As we welcome Mike, we are confident his extensive experience and industry insights will help us accelerate CPower’s growth and reinforce the company’s leadership in the distributed energy industry and its key role in the energy transition.”
About CPower Energy
CPower Energy is the leading, national DER monetization and Virtual Power Plant provider, creating the Customer-Powered GridTM that will enable a flexible, clean and dependable energy future. With 6.3 GW of capacity at more than 19,000 sites across the U.S., we unlock the full value of distributed energy resources to strengthen the grid when and where reliable, dispatchable resources are needed most. CPower is based in Baltimore, Maryland, and is owned by LS Power, a development, investment and operating company focused on the power and energy infrastructure sector. For more information, visit: www.cpowerenergy.com.
