The acquisition of Demand Energy, a complementary partner and innovator, will allow Enel Green Power to accelerate and expand their position at the forefront of the rapidly growing intersection of energy storage alone or combined with the renewables sector.
Renewables are booming. “Over the next five years, renewables will remain the fastest-growing source of electricity generation, with their share growing to 28% in 2021 from 23% in 2015” notice the International Energy Agency.
With this explosive growth, there is a continued need to manage the intermittency that occurs as the earth’s resources fluctuate. Solar, hydro, and wind power aren’t constant – what happens during the downtime? The challenge is making renewables fully dispatchable as a resource while creating power supply storage that’s more stable and reliable.
As Enel Green Power continues to build its renewable energy portfolio in the US and abroad, new innovative combined technology solutions such as battery storage systems are being integrated into renewable energy projects to create a more efficient and reliable power supply.
For several years, Enel Green Power has been actively exploring the integration of renewables and storage. To help meet the growing need for storing renewable energy, EGP-NA has acquired Demand Energy, an intelligent control software provider, project developer, and operator specializing in battery storage optimization. "Through this transaction we greatly strengthen our position in the growing battery storage market with a complementary partner and innovator," said Francesco Venturini, CEO of Enel Green Power
“By combining our global presence and expertise in systems integration with Demand Energy’s software and established product offering, we will expand the development of renewables and storage both in the US and globally, delivering a clean, reliable, high-tech and cost effective energy solution.”
“According to market research firm IHS, the energy storage market is set to “explode” to an annual installation size of 6 gigawatts (GW) in 2017 and over 40 GW by 2022.” – Energy Storage Association
A partnership with Demand Energy, will allow Enel Green Power to accelerate and expand their position at the forefront of this rapidly growing energy storage sector by giving EGP access to a unique and complementary software technology called Distributed Energy Network Optimization System (DEN.OS™), through which EGP will be able to leverage the most value from its existing and future assets. The company’s DEN.OS™ technology is a cloud-based software that acts as the ultimate optimizer of any asset that it’s paired alongside, complete with analytics.
To date, Demand Energy has successfully operated in the competitive New York City storage market, installed solar and storage microgrids and has effectively deployed projects on the utility side of the meter, delivering value to its commercial and industrial clients through its software. As the DEN.OS™ technology is utilized in multiple sites in New York City, Demand’s flexible integration of a wide array of hardware and software assets can aggregate multiple sites into fleets of energy assets or virtual power plants.
“Our DEN.OS energy management system, based on patent-pending controls and economic optimisation technology, facilitates the design, integration and operation of energy assets and services on both sides of the utility meter. We’re very pleased to become part of Enel, which will lead to expanded product and service offerings and global market opportunities.”
To keep costs down, the system recharges the batteries when the rates for electricity are the lowest, or when there is excess supply, and generates electricity when needed to reduce demand or stabilize the grid. The platform acts like a virtual power plant that enables its properties to be operated more efficiently.
“Our acquisition by Enel underscores the strategic intersection of renewable energy production, energy storage and an intelligent software controls platform,” said Gregg Patterson.
Combining the potential of the two businesses provides an unprecedented formula for optimization and growth; Enel’s renewable energy portfolios are technologically and geographically diversified, stretching over 24 countries and including more than 1,000 operational plants. With the help of Demand’s intelligent software system, EGP-NA is on track to manage and store renewable energy more efficiently than ever before.