The GE-backed energy management company has set the range for an initial public offering that could raise up to $115.9m.

Opower, a US-based developer of an energy management platform, has set the range for its initial public offering between $17.00 and $19.00, and could raise up to $115.9m when it floats.

Established in 2007 and formerly known as Positive Energy, Opower is the developer of an energy management platform that enables customers to measure their energy use and utilities to increase their energy efficiency. It was one of the winners of GE’s 2010 Ecomagination Challenge, in which $55m of investment…