Commercial, Energy Storage, Industrial, Utilities  -  January 11, 2017

Energy storage, software player acquired by Enel

Energy storage and intelligent software company Demand Energy Networks Inc., a notable player in the New York City storage market, has been acquired by the North American renewable energy subsidiary of Italian power company Enel SpA. 

The companies announced Jan. 11 that Enel Green Power North America Inc. has acquired a 100% stake in Demand Energy. Enel said in a news release that it will work with Demand Energy, which serves commercial and industrial customers, to expand deployment of the company's Distributed Energy Network Optimization System, an intelligent software controls platform that enables real-time optimization of energy management and aims to optimize the way electricity is generated, stored and consumed.

Demand Energy's core experience is in the behind-the-meter storage market. The company has carried out 24 projects since its creation, totaling 3 MW/9 MWh of installed capacity in both the U.S. and Latin America, and boasts a pipeline in excess of 30 MW/100 MWh. In New York City, for example, Demand Energy has helped property builder and owner Glenwood deploy more than 1 MW of distributed energy storage.  

"Through this transaction we will be able to greatly strengthen our position in the growing battery storage market with a complementary partner and innovator," Francesco Venturini, Enel's head of global renewable energies said in a statement. "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."