The year in energy storage started off with a bang as Italian utility Enel acquired a 100 percent stake in U.S.-based Demand Energy, a developer and operator of energy storage systems and software, for an undisclosed amount.
Enel’s renewables division operates 36 gigawatts of clean energy around the world. The North America subsidiary, which will control Demand Energy, has more than 100 plants spanning hydropower, wind, geothermal and solar energy, with a managed capacity of more than 2.8 gigawatts. That global portfolio now has become a ready and willing customer for Demand Energy’s storage and energy management software, named DEN.OS, for Distributed Energy Network Optimization System.
“Through this transaction, we will be able to greatly strengthen our position in the growing battery storage market with a complementary partner and innovator,” said Francesco Venturini, Enel’s head of global renewable energies, 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 U.S. and globally, delivering a clean, reliable, high-tech and cost-effective energy solution.”
That’s not a bad outcome for the 30-person American startup with just 3 megawatts and 9 megawatt-hours of installed storage capacity under its belt. The goal now is to quickly scale Demand Energy’s resources and capabilities, said President and CEO Gregg Patterson.
“As we were looking at our options, Enel clearly stood out,” he said. “They have a monstrous renewables portfolio worldwide and they really wanted a dependable and capable software platform. We were looking for the ideal partner to scale and grow behind the meter, in front of the meter and in microgrids.”
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