The recent $165 million acquisition between Cordia Energy and Essential Utilities in Pennsylvania’s Alleghany Energy showcases energy no longer being a “hidden in the background” industry and the need for Black leadership at the forefront, a spokesperson tells BLACK ENTERPRISE.
A report from McKinsey & Company revealed a global wave of capital investment estimated to extend well past 2027, with close to $130 trillion expected to be directed toward projects focused on decarbonization, modernization, and critical infrastructure revitalization.
Cordia’s acquisition of district energy and microgrid assets will expand the company’s footprint in localized energy systems serving both institutional and commercial customers. The move comes as cities and college and company campuses are working to modernize aging infrastructure, driven by demand for flexible, community-scale energy solutions. It comes with the idea of more Black leaders in the field, highlighting the industry as scalable.
The acquisition was led by Wayne Barnett, head of corporate and external affairs at Cordia, who oversees government affairs strategy, external stakeholder engagement, and regulatory alignment.
He played a vital role, alongside Cordia’s government affairs advisor, Tony Payton Jr., who once served as a Democratic member of the Pennsylvania House of Representatives, leveraging relationships throughout Pennsylvania’s public-sector and utility network.
Barnett noted that acquisitions such as this couldn’t take place without partners with proven expertise.
“Energy infrastructure is no longer a background industry. It’s central to how communities grow, how cities modernize, and how capital is deployed at scale,” Barnett said. “As investment accelerates, the industry must recognize the full range of expertise required to bring these complex transactions to life.”
As energy is often a hot topic on Capitol Hill, Cordia’s moves also highlight the need for Community Energy Planning (CEP), identified as a proven, scalable pathway for cities to build energy systems that better equip planners to lead.
According to Axios, the concept of CEP provides a framework that brings together utilities, developers, policymakers, and communities to assess the need for local energy. In addition, it can forecast future demand for integrated solutions well in advance.
Cities such as New York, Amsterdam, and Singapore have already proven the success of planning in enabling smarter grid modernization, advanced metering, scalable integration, and flexible load management.
Cordia is a company known for its design strategies and operational management of these systems, controlling district energy networks throughout North America and providing reliable, low-carbon energy to campuses, medical centers, and downtown areas.RELATED CONTENT: Hollywood Icons Pose Down In Exclusive IMDb Studio At Black Cinema & Television Celebration