A subsidiary of Enel Group on Aug. 7 completed its $250 million acquisition of demand response services provider EnerNOC Inc., marking the Italian utility's steady push into the market for U.S. grid services.
Enel Green Power North America's acquisition of the Boston-based electricity software and demand response company gives the Italian conglomerate 100% ownership of the business and access to EnerNOC's 8,000 customers across utility, commercial, industrial and retail markets. That portfolio accounts for 6,000 MW of demand response capacity, allowing customers to be compensated for lowering their energy use during periods of high demand in certain markets with demand response mandates.
Building on its own portfolio of 3,300 MW of renewable capacity in the U.S., Enel believes that EnerNOC will help it further carve out its place in the market for smart energy software and development platforms.
"With the close of this transaction we strengthen our position to leverage the technology and digital transformation that is taking place within the energy sector and open the door for the creation of new, innovative business opportunities that will meet and respond to the changing needs of our growing customer base," Enel head of global e-solutions Francesco Venturini said in a statement.
In January, Enel also purchased Demand Energy Networks, Inc., an energy storage software and analytics platform, for an undisclosed sum.