174 Power Global Retail, a wholly owned subsidiary of Hanwha Energy USA Holdings Corporation, has entered competitive retail electricity markets within the PJM region. The expansion follows the acquisition of Powervine Energy and Powervine Energy MD.
The company, which operates Chariot Energy and Pumpjack Power in Texas, will market and sell retail electricity under the Chariot Energy Northeast and Powervine Energy brands. Product availability, pricing, and contract terms will vary by state, subject to applicable licensing and regulatory requirements.
The expansion positions the company to serve residential, commercial, and industrial electricity customers through licensed brokers, consultants, and energy aggregators. Chariot Energy offers customized electricity supply agreements, including fixed-price, index-based, and structured products, along with tailored billing solutions for manufacturing facilities, data centers, and other energy-intensive businesses.
174 Power Global Retail Corporation serves customers in Texas and competitive electricity markets within ERCOT and the PJM Interconnection region. It is backed by Hanwha Energy USA, which is backed by Hanwha Group, a Fortune Global 500 company headquartered in South Korea.
KEY QUOTES:
“Our entry into PJM is an important step in building a broader retail electricity platform capable of serving customers across key U.S. markets.”
In Kyu Park, Chief Executive Officer, 174 Power Global Retail Corporation
“This expansion supports our strategy to build a stronger multi-brand retail electricity platform across competitive U.S. markets. We will continue evaluating organic growth and acquisition opportunities in PJM and ERCOT that broaden our reach, strengthen our capabilities and create long-term value.”
Mohsin Khoja, Chief Operating Officer, 174 Power Global Retail Corporation
