Why Generac Shares Are Surging Today - Generac Hldgs (NYSE:GNRC)

Generac Holdings Inc. GNRC subsidiary Generac Grid Services and German utility RWE AG RWEOY reveal the expansion of their collaboration.
The companies plan to jointly launch additional market products following the delivery of uninterrupted automatic Frequency Restoration Reserve (aFRR) capacity for the last six months.
"Generac Grid Services is proud to support RWE in providing grid-balancing solutions that support a reliable grid as more intermittent renewables connect to the system," said Michael Ruth, VP of Product at Generac Grid Services.
The solution enabled by Generac Grid Services' Concerto distributed energy resource control platform increased efficiency and performance by removing manual operations from the real-time market service.
The success sets the stage for the two companies to expand market operations, with a plan to launch two more market products this year.
According to UBS, Generac is a "top pick." The brokerage firm observed significant growth potential owing to the company's clean energy business.
Price Action: GNRC shares are trading higher by 9.01% at $265.83 on the last check Thursday.