Xcel Energy to Deploy Advanced Virtual Power Plant in Colorado with Itron and Tesla

LIBERTY LAKE, Wash., March 20, 2025 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for energy providers and cities to manage energy and water, is collaborating with Tesla Inc. to deploy an advanced virtual power plant (VPP) in Colorado in collaboration with Xcel Energy. The collaboration is part of a new effort in Itron’s ongoing work with Xcel Energy to manage the growing number of distributed energy resources (DERs) with Itron’s Grid Edge Intelligence (GEI) solutions. This initiative enables Xcel Energy to enhance the management of DERs and the value they provide for customers. Itron’s IntelliFLEX Aggregator Distributed Energy Resource Management System (DERMS) solution, which is a part of Itron’s Grid Edge Intelligence portfolio and powered by distributed intelligence, enables energy providers to aggregate and localize management of DERs. Using this solution, the energy provider can efficiently enlist residential battery storage, solar panels, EV chargers, smart thermostats and other DERs to better balance power at the edge of the grid. Proven at scale, Itron’s IntelliFLEX solution helps to manage 3 million DER devices for 30 utilities across the U.S. Itron will directly integrate its IntelliFLEX solution with Tesla’s battery storage platform, helping provide grid benefits in real-time using power from solar stored on Tesla Powerwall home batteries. This collaboration will expand Xcel Energy’s VPP program, Renewable Battery Connect, increasing the number of batteries that can be dispatched when needed and helping Xcel Energy meet its electrification goals more quickly. The program allows Xcel Energy to manage customers’ batteries during periods of peak energy demand to help stabilize the electric grid. Colorado enjoys over 300 sunny days per year, making the state an ideal candidate for solar energy and battery storage, and it was one of the first states in the U.S. to have a Renewable Energy Standard. Xcel Energy’s Renewable Battery Connect program is supported by residential participants’ home batteries during periods of peak energy demand, dispatching stored power to the grid and reducing peak demand. The Renewable Battery Connect program is a first-of-its-kind model in Colorado and integrates aggregator DERMS solutions and battery storage from Itron and Tesla, respectively. With an advanced VPP, DERs, such as solar panels or battery storage, can be controlled together through an aggregator DERMS platform to act as one “virtual” power plant and provide power to the grid during times of high-peak energy demand. By integrating Itron’s aggregator DERMS solution with Tesla’s platform, the companies streamline DER orchestration and the facilitation of customer enrollment, event dispatch and optimization of program performance. Through this collaboration, Xcel Energy will more efficiently stabilize the grid during periods of peak demand with renewable, solar energy through battery management. “Xcel Energy is taking important steps to meet the increasing energy demands of a growing economy and is committed to providing more energy options for our customers,” said Emmett Romine, vice president, Customer Energy and Transportation Solutions at Xcel Energy. “Our Renewable Battery Connect program creates a new VPP in Colorado and we’re proud to work with Itron and Tesla, who have proven to be trusted industry partners and align with our goals to strengthen the energy grid while maintaining reliability and advancing renewable energy. This collaboration will deliver renewable, solar energy when our customers need it most.” “Utilities need better data, more insights and the ability to quickly take actions based on near real-time data. This collaboration highlights the importance of energy provider awareness at the grid edge and how we can help manage the future grid, especially as communities reach 100% electrification,” said Don Reeves, Itron’s senior vice president of Outcomes. “Integrating our IntelliFLEX solution with Tesla Powerwall demonstrates a shared vision with a leading technology partner who is at the forefront of creating electrification solutions. Through this collaboration, we are excited to bring new capabilities to Xcel Energy as they embark on its energy transition journey.” Learn More at DISTRIBUTECH 2025 To learn more about Itron’s IntelliFLEX solution, visit Itron at DISTRIBUTECH 2025, March 25-27, in booth #3008 or see the solution page. To learn more about Xcel Energy’s Renewable Battery Connect program, click here. About Itron Itron is a proven global leader in energy, water, smart city, IIoT and intelligent infrastructure services. For utilities, cities and society, we build innovative systems, create new efficiencies, connect communities, encourage conservation and increase resourcefulness. By safeguarding our invaluable natural resources today and tomorrow, we improve the quality of life for people around the world. Join us: www.itron.com. Itron® and the Itron Logo registered trademarks of Itron, Inc. in the United States and other countries and regions. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated. For additional information, contact: Itron, Inc. Alison MallahanSenior Manager, Corporate Communications509-891-3802PR@Itron.com Paul VincentVice President, Investor Relations512-560-1172Investors@itron.com Itron, Inc. LinkedIn: www.linkedin.com/company/itronincX: www.x.com/itronincNewsroom: https://itron.com/newsroomBlog: https://itron.com/blog

Xcel Energy to Deploy Advanced Virtual Power Plant in Colorado with Itron and Tesla

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