Priority Power Management Inc., an energy optimization and infrastructure company backed by Oaktree Capital Management and Ara Partners, has bought AB Power Advisors, a Texas-based renewable energy offtake and consulting business.

AB Power Advisors commercializes renewable generation projects to support the ESG and carbon reduction goals for commercial and industrial customers in the U.S. The acquisition provides Priority Power with an office in Austin and looks to further the company’s place in the electric reliability council of Texas (ERCOT) market. It marks the third acquisition for Priority Power in the past 18 months, and the second in the past 60 days.

“AB Power Advisor’s business is a perfect complement to our robust suite of offerings,” says Brandon Schwertner, chief executive officer of Priority Power. “This acquisition solidifies Priority Power’s role as the leading experts in all facets of energy optimization.”