Acquisition reinforces Citadel’s growing position in European and German power trading

MIAMI & HAMBURG, Germany--(BUSINESS WIRE)--

Citadel, a leading global investment firm, has entered into a definitive agreement to acquire 100% of Hamburg-based power trading firm FlexPower.

The proposed acquisition is a strategic investment by Citadel and will introduce a new era of growth for FlexPower. The combination of Citadel’s extensive risk management, technological and analytical capabilities with FlexPower’s renewable market expertise will enable FlexPower to deliver reliable power risk management solutions to a broader range of producers and consumers across Germany and Europe.

Founded in 2022, FlexPower specializes in trading and risk management solutions for renewable generators (“Upgrid”), flexibility providers such as battery operators (“Flexgrid”), and commercial and industrial offtakers (“Downgrid”). With Germany’s power market experiencing a rapid increase in renewable energy in recent years, FlexPower has leveraged its expertise to help businesses navigate electricity price volatility. The company trades a portfolio of more than 1,700 megawatts across six European countries, amounting to over 11 terawatt-hours placed annually on short-term power markets.

“This acquisition strengthens Citadel Commodities’ position as a leading investor and risk manager in power markets, and builds on our success in global energy trading,” said Sebastian Barrack, Head of Citadel Commodities. “It also reflects Citadel’s continued commitment to the development of robust and well-functioning European energy markets.”

Citadel has been active in global energy markets for over 20 years. Recent expansions include the acquisition of Japanese power wholesaler Energy Grid in 2024 and the build-out of a new trading base in Australia in 2025.

“This acquisition is a key milestone for FlexPower,” said Max Amir Dieringer, CEO of FlexPower. “At FlexPower, we believe renewable trading should be as efficient and scalable as any other commodity market. Our proprietary PPA platform, PowerMatch, is designed to make this a reality and reduce risks for both generators and offtakers. With Citadel’s unmatched talent, infrastructure, and financial strength, we can achieve this vision and establish ourselves as Europe’s premier renewable trading house.”

The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions. FlexPower will retain its brand and do business as “FlexPower (a Citadel company).” Deal terms were not disclosed.

About Citadel

Citadel is one of the world’s leading alternative investment firms. For over thirty years, we have strived to identify the highest and best uses of capital to generate superior long-term returns for the world’s preeminent public and private institutions. We promote efforts to foster efficiency, transparency and resilience in a range of global markets. In Commodities, our investments are based on our deep understanding of market fundamentals. We express our investment views through financial derivatives, physical supply and offtake, and financing.

For more information, visit Citadel.com.

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Source: Citadel