Radian Generation, a global leader of services and software solutions supporting the complete lifecycle of renewable energy projects, has acquired Proven Compliance Solutions Inc. (PCS), a consulting firm that assists utilities with NERC Reliability Standards compliance, critical infrastructure protection (CIP) and operations & planning (O&P) across North America.
”We believe compliance and cybersecurity are critical elements to ensuring the resiliency of the grid and the future of renewables,” said Kellie Macpherson, Executive Vice President, Compliance & Risk Management for Radian Generation. “PCS brings some of the industry’s most seasoned veterans and serves many influential utilities. Together we can support our customers’ ability to deliver reliable, sustainable, and secure power to the grid.”
PCS President & CEO, Crystal Musselman, said, “We share a common commitment with Radian Generation to help companies meet their NERC Reliability Compliance obligations so that they can focus on optimizing the generation, storage, transmission, and distribution of reliable energy. We are seeing rapid additions of renewable energy assets from our customers. We are thrilled to be a part of the Radian Generation team and look forward to supporting our combined customer base and the clean energy transition.” PCS also brings specialized CIP cybersecurity resources and compliance monitoring activities including mock audits and audit support.
According to the International Energy Agency (IEC), the global annual renewable capacity increased by almost 50% in 2023 to nearly 510 GW, making it the fastest growth in two decades. Furthermore, the US Energy Information Administration (EIA) forecasts that renewables will make up 81% of new U.S. electric-generating capacity in 2024. This exponential growth is fuelling demand for new projects, and owners have a complex landscape of regulatory compliance and cybersecurity to navigate. Radian Generation is now the best equipped company to serve this market.
This latest acquisition is backed by 424 Capital, a capital partner that partners with companies in the technology and tech-enabled services sectors that positively impact an industry, and have the ability to change the world.
About Radian Generation
Radian Generation was founded in 2013 on the core principle of driving sustainable growth by providing asset management products and solutions to support the complete lifecycle of renewable facilities. The Radian Digital™ platform provides tools to maximize efficiency, mitigate risks, and boost profitability, providing stakeholders with real time access to the data they need. Radian provides complete lifecycle solutions to over 40 GW of solar, wind, and battery storage assets around the world and is dedicated to empowering the transition to a cleaner energy future.
Visit radiangen.com for more information.
About 424 Capital
424 Capital is a growth capital partner that invests in lower middle market companies within technology and tech enabled services. 424 Capital works in partnership with founders and management teams to accelerate and scale for long-term growth. 424 invests in, empowers, and enables companies to step up, stand out, and make a difference in the world. For more information visit 424capital.com.
