Enel Green Power North America, the subsidiary of Italian energy company Enel has signed an agreement to acquire a US-based smart energy management services company EnerNOC for $250m.
The acquisition is expected to add the experience of demand response services to Enel Group as well as a new range of energy management services to its commercial and industrial customers across the world.
Through the acquisition, Enel will now own EnerNOC’s network of 14000 sites, 6GW of demand response capacity and more than 8000 customers.
With demand response, commercial and industrial consumers can respond to market signals by increasing or decreasing their power consumption with an aim to address excess electricity supply or demand that offers greater grid flexibility, stability and more efficient use of power infrastructure as well as energy resources.
Customers can also benefit from the remuneration that is offered for participating in demand response programmes whenever they are allowed by a relevant regulatory framework.
Enel Group plans to leverage EnerNOC’s energy management system capabilities to strengthen its service offerings across its existing markets, through cross-selling and also plans to expand into new markets.
With demand response services, Enel is poised to address the sustainability of electricity system as a whole.
EnerNOC active participates in demand response networks across North America, Europe and Asia Pacific. Apart from this, the energy intelligence software developed by EnerNOC, can allow businesses to boost facility efficiency, while simplifying utility bill management and ease of reporting burdens.
The company’s energy procurement tools and services help customers buy energy more strategically, manage risk, and optimise pricing.
Enel Global e-Solutions Head Francesco Venturini said: "Enel's acquisition of EnerNOC, six months after our acquisition of Demand Energy Networks, reflects our strategic focus on the energy technology and services space.
“As we continue to lead the transformation of the energy sector, EnerNOC's technological expertise and positions in key markets will add further momentum to our efforts, while we leverage the existing global footprint of the Enel Group to open up new business opportunities, taking innovative services and solutions to the hundreds of millions of people we serve around the world."
Image: Enel’s power transformer station in Romania. Photo: Courtesy of Enel Spa.