Type to search

News Briefs

Delmarva Power buys $190M in services by diverse suppliers

Avatar photo
Share

NEWARK Delmarva Power purchased $190 million in goods and services from diversity-certified suppliers in 2023. This amount represents 40% of the company’s total purchases for the year, marking a $50 million increase from 2022. Delmarva Power

“Supplier diversity is just one of the ways we support our customers and local communities with more than energy,” Rodney Oddoye, senior vice president of Government, Regulatory and External Affairs at Pepco Holdings, which includes Delmarva Power, said in a statement. “Our continued increase in investments with these valuable partners reinforces our commitment to the local communities that we proudly serve and supports local business growth, helping our communities thrive.”

In line with Delmarva Power’s dedication to enhancing procurement efforts with local diversity-certified suppliers, the Empowerment Academy, formerly known as Target 25, offers prospective suppliers a chance to gain insights into Delmarva Power’s procurement procedures and those of its parent company, Exelon. This initiative contributes to the growth and development of each vendor’s relationship with the energy company.

In 2022, Exelon, Delmarva Power’s parent company, launched the Community Impact Capital Fund (CICF) in partnership with RockCreek, one of the world’s largest diverse-owned global investment firms, which has invested more than $8.4 billion in diverse firms over the last two decades. The CICF, formerly known as the Racial Equity Capital Fund, expands capital access to businesses that have traditionally been challenged in accessing and securing funding so they can create more jobs, grow their companies and reinvest in their neighborhoods and communities.

Companies interested in working with Delmarva Power and other Exelon companies can register and provide pertinent information, including their diversity status, at exeloncorp.com/Suppliers.

Get the free DBT email newsletter  

Follow the people, companies and issues that matter most to business in Delaware.

Tags:

You Might also Like

Leave a Comment

Your email address will not be published. Required fields are marked *

Premier Digital Partners

© 2024 Delaware Business Times