Sale closes on Essential Utilities properties in Allegheny County

Phoenix-based Cordia, an energy solutions provider, recently closed on its $165 million purchase of three Essential Utilities, nonutility microgrid and district energy properties in Allegheny County.

Peoples, Essential’s Pittsburgh-based gas operations subsidiary, developed the microgrids and district energy systems. Essential will use proceeds from the sale to finance its water and wastewater acquisitions, and capital expenditures.

“I want to extend my gratitude to Essential Utilities and Peoples for their role in developing these state-of-the-art energy systems,” Cordia CEO Earl Collins said. “Cordia remains committed to providing safer, more reliable, and more resilient energy to our community. We are enthusiastic about the positive impact these systems will have on the region and are confident in our ability to continue delivering exceptional energy solutions for years to come.”

The properties are a 21.25 megawatt natural-gas power plant supported by on-site gas production at the Pittsburgh International Airport; a district energy system at Allegheny Health Network–Wexford Hospital; and the Allegheny County District Energy system.

Essential serves approximately 5.5 million people in nines states under the Peoples and Aqua brands.

Peoples serves approximately 740,000 homes and businesses in Western Pennsylvania and Kentucky.

Cordia serves more than 700 customers throughout the United States.