Demand Energy has developed a software system for real time energy management, and has already seen some success on the New York City storage market. Enel will now focus on increasing deployment of the Distributed Energy Network Optimization System both in the U.S. and globally.
“Through this transaction we will be able to greatly strengthen our position in the growing battery storage market,” said Enel’s head of Global Renewable Energies Francesco Venturini. “By combining our global presence and expertise in systems integration with Demand Energy’s software, we will expand the development of renewables and strorage.”
Demand Energy has carried out 24 projects in the U.S. and Latin America since its creation, with the bulk of this experience in behind the meter storage. The company will now have access to Enel’s project portfolio, which covers more than 1000 projects across 24 countries.
“Our acquisition by Enel underscores the strategic intersection of renewable energy production, energy storage and an intelligent software platform,” stated Demand Energy President and CEO Gregg Patterson. “We’re very pleased to become part of Enel, which will lead to expanded product and service offerings and global market opportunities.
Energy management software is an increasingly vital tool in PV, as developers see granular data as key way to optimize their projects. A similar deal was undertaken last year, when U.S. manufacturer NexTracker acquired software modelling company Brightbox Technologies.