CME Energy

What CME Energy does

CME Energy LLC is an independent power producer founded in 1992 and headquartered in Boston, Massachusetts, that develops utility-scale energy projects for utilities, municipalities, and financial investors. The company sources, structures, and develops projects across natural gas combined-cycle generation, utility-scale solar PV, battery energy storage systems (BESS), and carbon-capture cogeneration, with cumulative development exceeding 10,000 MW and 1.7 GW currently in operation. Its technology stack is built around third-party OEM equipment — including Siemens H-class gas turbines at the 869 MW Oregon Clean Energy Center — combined with in-house expertise in siting, permitting, financing, and community engagement across multiple US jurisdictions and internationally in North Africa, Eastern Europe, and Latin America.

The company's business model combines project development fees and transaction economics with retained minority equity stakes in operating assets, including the Oregon Clean Energy Center (869 MW) and the 50/50-owned Clean Energy Future-Oregon (955 MW). Projects are typically structured through joint development vehicles with partners such as Hecate Energy, Pure Energy, and Flatiron Energy, financed with equity from Energy Investors Funds, I Squared Capital, and Ares Management, and built by EPC contractors such as Black & Veatch and Fluor. CME generates revenue through development and transaction fees at financial close, plus ongoing distributions from retained ownership interests, with project economics negotiated bilaterally and not publicly disclosed.

The most strategic growth pillar is BESS, where CME has assembled a 4+ GW development pipeline concentrated in Massachusetts, Connecticut, and New Hampshire — the largest battery storage pipeline in New England — and has launched CME Mid-Atlantic Reliable Energy (CME MARE) to extend the franchise into PJM markets. Customer concentration is project-driven rather than recurring-revenue-driven: named offtake and equity counterparties include American Municipal Power, Duke Energy, National Grid (Narragansett Electric), MIT, General Motors, and Scudder Stevens & Clark, with long-term PPAs and multi-decade asset lives anchoring individual transactions.

Name

CME Energy

Legal name

CME Energy LLC

Website

https://cme-energy.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

1–10 employees

Short description

CME Energy is a Boston-based independent power producer that develops, finances, and retains minority stakes in utility-scale natural gas, solar, and battery storage projects for utilities, municipalities, and financial investors across the US and internationally.

Ownership category

akta.pro rank

Product category

Independent Power Project Development

NAICS

Electric Power Generation (22111), Solar Electric Power Generation (221114), Fossil Fuel Electric Power Generation (221112)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)

akta.pro secondary industries

Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI), Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD), Development-Stage M&A & Portfolio Acquisition (Early-Stage/Ready-to-Build) (EUAMAAAF)

Keywords

• Independent power producer
• Utility-scale energy development
• Battery energy storage
• Natural gas combined-cycle
• Clean energy infrastructure

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Project Development and Sale: CME develops utility-scale power projects from inception through financing and construction, then sells completed projects or retains minority equity stakes. Revenue comes from development fees, transaction fees, and retained ownership interests in operating assets.
2. Equity Ownership in Operating Projects: Retains minority ownership interests in completed projects such as Oregon Clean Energy Center (869 MW) and Clean Energy Future-Oregon (955 MW), generating ongoing returns from power generation operations.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

CME Energy is an independent power producer (IPP) that develops utility-scale energy projects from inception through financing, construction, and commercial operation. The company develops natural gas combined-cycle power plants, utility-scale solar PV installations, and grid-scale battery energy storage systems (BESS), arranging equity and debt financing and either selling completed projects to utilities/investors or retaining minority ownership interests. It also provides advisory and consulting services for power project development and facility optimization to corporate and institutional clients.

Product overview

CME Energy is an independent power project developer specializing in utility-scale clean energy infrastructure. The company's portfolio includes utility-scale solar installations (Forbes Street Solar Projects I and II), natural gas combined-cycle power plants (Oregon Clean Energy Center, Clean Energy Future – Oregon, Fremont Energy Center), international cogeneration facilities (El Biban Power Plant in Tunisia), and a rapidly expanding Battery Energy Storage System (BESS) division with over 4 GW in development. The company also provides advisory services for power project development and facility optimization. Projects are developed through partnerships with technology providers (Siemens, Hecate Energy, Pure Energy) and financed alongside investment firms (Energy Investors Funds, I Squared Capital, Ares Management).

Differentiator

Problem solved

Functional benefit

Products and services

• Battery Energy Storage System (BESS) Projects A pipeline of grid-scale battery energy storage projects across New England and PJM markets, with 2.2 GW contracted and 4.2 GW in development. Specific projects include Eastern Ave Energy Center (250 MW, Chelsea MA), Electric Ave Energy Center (185 MW, Brighton MA), Medway Energy Center (740 MW), Ward Hill Energy Center (310 MW), Silver Street Energy Center (500 MW), Center Street Energy Center (600 MW), Boulder Dell Energy Center (300 MW), Timber Swamp Energy Center (400 MW), and Greenfield Energy Center (150 MW). Developed for utilities, municipalities, and financial investors to provide grid reliability and capacity services.
• Forbes Street Solar Project I A 3.7 MW solar installation built on a closed landfill in East Providence, Rhode Island, co-developed with Hecate Energy. The project was constructed without cutting down trees and without consuming additional land, and sells electricity to National Grid under a 20-year PPA.
• Forbes Street Solar Project II A 3 MW ground-mounted solar project with 12,296 panels on the retired landfill in East Providence, Rhode Island, producing approximately 5,350 MWh annually — enough to serve nearly 500 Rhode Island households — under a 20-year PPA with National Grid (Narragansett Electric Co.).
• Oregon Clean Energy Center An 869 MW (peak 951 MW) natural gas-fired, combined-cycle electric power plant in Oregon, Ohio, using Siemens H-class turbine technology (two SGT6-8000H gas turbines, one SST6-5000 steam turbine, SGen6-2000H generators, heat recovery steam generators, and SPPA-T3000 controls). Capable of producing up to 961 MW, enough power for 700,000+ homes, and now majority-owned by Ares Management alongside I Squared Capital.
• Clean Energy Future – Oregon A 955 MW gas-fired combined-cycle electric generating facility in Oregon, Ohio, in which CME Energy holds a 50 percent ownership stake alongside William Siderewicz under Clean Energy Future LLC. Being constructed by Fluor Corporation for commercial operation anticipated in 2020.
• Fremont Energy Center, Ohio A 707 MW combined-cycle natural gas power plant developed in 2001 with Calpine Energy in Fremont, Ohio, producing cost-effective, clean energy. Now owned and operated by American Municipal Power after being sold by FirstEnergy.
• El Biban Power Plant, Tunisia A 27 MW cogeneration electric power plant in Zarzis, Tunisia — the first independent power project in North Africa and the first carbon capture power plant in Africa. Captures flare gas from a nearby offshore oil field and burns it as fuel for electricity generation, selling power to Tunisian utility S.T.E.G.
• Power Project Advisory Services Consultative advisory services for power project development, market development, and facility optimization. Engagements include technical and operational evaluation of MIT's gas-fired single-cycle cogeneration facility (resolving interface issues with Cambridge Electric), market development advisory for Duke Energy, and advisory to General Motors and Scudder Stevens and Clark on Latin America power investments (including the region's first independent power project in Colombia).

Quantifiable outcome

• 1.7GW of clean energy projects currently in operation
• +3 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core, major and minor.

• Black & VeatchcoreTechnology or Integration · 25 November 2014Engineering, procurement, and construction (EPC) contractor for Oregon Clean Energy Center. Ordered Siemens Power Island equipment for the 869 MW combined-cycle facility. Began construction November 17, 2014.
• SiemenscoreTechnology or Integration · 25 November 2014Equipment provider for Oregon Clean Energy Center, delivering SGT6-8000H gas turbines, SST6-5000 steam turbine, SGen6-2000H generators, heat recovery steam generators, and SPPA-T3000 instrumentation and control system. Also provides long-term service and maintenance agreement.
• Hecate EnergycoreStrategic or Co-development PartnerLong-term joint development partner for solar projects. Co-developed Forbes Street Solar Projects I and II in Rhode Island, and BESS projects including Eastern Ave Energy Center, Electric Ave Energy Center, Medway Energy Center, Ward Hill Energy Center, Silver Street Energy Center, Center Street Energy Center, Boulder Dell Energy Center, and Timber Swamp Energy Center.
• Pure EnergycoreStrategic or Co-development PartnerPartnership to form North America Project Development, LLC for development of Oregon Clean Energy Center and other Ohio projects. Joint development company created in April 2012.
• Flatiron EnergycoreStrategic or Co-development PartnerJoint development partner for BESS projects including Eastern Ave Energy Center (250MW) in Chelsea, MA and Electric Ave Energy Center (185MW) in Brighton, MA.
• Caterpillar Power Ventures InternationalcoreStrategic or Co-development PartnerPartnered on El Biban Power Plant (27 MW) in Zarzis, Tunisia. Caterpillar supplied solar generating turbines, acted as turnkey construction company, and operated the facility through a subsidiary. CME sold its interest to Caterpillar Finance in 2004.
• Centurion EnergymajorStrategic or Co-development PartnerPartnered with CME and Caterpillar on the El Biban power project in Tunisia, the first independent power project and first carbon capture power plant in Africa.
• Cornerstone Power DevelopmentminorStrategic or Co-development PartnerJoint development partner with CME for the Rhode Island Convention Center solar feasibility study in 2010.
• Calpine EnergymajorStrategic or Co-development PartnerCo-developed Fremont Energy Center (707 MW) in Fremont, Ohio in 2001. Calpine sold the plant to FirstEnergy in 2008.
• Bright Plain Renewable EnergymajorStrategic or Co-development PartnerPartnership with D.E. Shaw Renewable Investments on acquisition of Forbes Street Solar Project I. Also served as partner in developing the solar installation.
• Clean Energy Future LLCcoreStrategic or Co-development PartnerCME Energy is 50% owner alongside William Siderewicz of Clean Energy Future-Oregon, which is developing the 955 MW Oregon Energy Center gas-fired combined-cycle facility. Also developing additional plants in Lordstown, Ohio.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• EDF Renewables North America: US subsidiary of EDF developing utility-scale wind, solar, and storage projects; broadly comparable IPP development capabilities, though EDF Renewables operates with broader geographic and technology scope.
• ENGIE North America: Subsidiary of global utility ENGIE developing utility-scale renewables and storage across the US; comparable development-and-finance IPP model but operates across broader geographies and customer segments.
• NextEra Energy Resources: Largest US renewable energy IPP and a subsidiary of NextEra Energy; broadly comparable utility-scale solar, wind, and storage development franchise though at materially greater scale.

Direct peers

• Clearway Energy: Public US IPP (NYSE: CWEN) operating utility-scale renewable and conventional generation plus growing storage portfolio; directly comparable asset mix and institutional capital partnership approach.
• Avantus: US-based utility-scale solar and storage developer (formerly 8minute, Vesper Energy) focused on IPP development in markets overlapping CME's New England and PJM footprint.
• AES Corporation (sPower): Global IPP with significant US utility-scale solar and storage development (formerly via sPower); comparable project development, financing, and IPP ownership economics in PJM and adjacent markets.
• Calpine Energy: Co-developed the 707 MW Fremont Energy Center with CME in 2001; one of the largest US natural gas IPPs with a similar combined-cycle development history and offtake relationships with municipal and investor-owned utilities.
• Invenergy: Privately held US-based independent power producer developing utility-scale wind, solar, and storage projects with similar project development, financing arrangement, and asset-sale/retained-equity business model.
• Pattern Energy: IPP developing, owning, and operating utility-scale wind, solar, transmission, and storage assets in North America; closely comparable development-to-operation business model and institutional capital partnerships.
• Hecate Energy: Long-term joint development partner with CME on Forbes Street Solar Projects I and II and multiple New England BESS projects (Eastern Ave, Electric Ave, Medway, Ward Hill, Silver Street, Center Street, Boulder Dell, Timber Swamp). Highly comparable solar + storage IPP development model and pipeline.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cme-north-american-merchant-energy-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CME Energy