Citadel to Acquire Leading German Power Trader FlexPower
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Citadel has entered into a definitive agreement to acquire 100 percent 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 more than 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. It also reflects Citadel’s continued commitment to the development of robust and well-functioning European energy markets,” said Sebastian Barrack, head of Citadel Commodities.
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. At FlexPower, we believe renewable trading should be as efficient and scalable as any other commodity market,” said Max Amir Dieringer, CEO of FlexPower.
“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,” added Dieringer.
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.
Citadel is one of the world’s leading alternative investment firms. For more than thirty years, they 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. They promote efforts to foster efficiency, transparency, and resilience in a range of global markets. In commodities, its investments are based on their deep understanding of market fundamentals. They express their investment views through financial derivatives, physical supply and offtake, and financing.
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