EnerNOC Expands Footprint in Asia with 200 Megawatt Contract with Taiwan Power Company
EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software (EIS) and demand response solutions, announced today that EnerNOC Taiwan has been awarded a 200 megawatt demand response contract with state-owned electric utility Taiwan Power Company (Taipower). Under the terms of the agreement, EnerNOC Taiwan will be the exclusive demand response aggregator in Taiwan for the duration of the initial 2-year contract.
Taiwan has a system peak load of roughly 36,000 megawatts, which is approximately equal to the peak load of Australia. Reserve power margins in Taiwan have dipped as low as 1.5 percent recently, which makes it challenging for Taipower to maintain reliable power supply during periods of peak demand.
"Demand response is a proven way to improve system reliability quickly and cost-effectively, and we look forward to building and operating this critical resource for Taipower," said Jeff Renaud, Vice President and Managing Director, Asia Pacific, EnerNOC.
EnerNOC Taiwan will operate as a joint venture between EnerNOC and Cheng Long Intelligent Engineering, a leading Taiwanese Energy Services Company with more than 350 commercial and industrial customers across Taiwan. "We are excited to partner with EnerNOC, which has the most experience operating demand response resources to deliver value to local communities, businesses, and power providers," said Chunyen Wu, Chairman of Cheng Long.
EnerNOC is the global leader in demand response, with a rapidly growing footprint in the Asia-Pacific Region. In addition to entering Taiwan, EnerNOC recently surpassed 1,000 enrolled megawatts in Korea and operates active demand response portfolios in Japan, Australia, and New Zealand.
"This is an exciting win for our demand response business as we continue to grow our international footprint and build upon our success in Asia," said Tim Healy, Chairman and CEO, EnerNOC. "Our strong partnership and ability to rapidly localize our technology position us to hit the ground running in this exciting new market."
EnerNOC is a leading provider of energy intelligence software (EIS) and demand response solutions. With capabilities to better address budgets and procurement, utility bill management, facility analysis and optimization, sustainability and reporting, project tracking, and demand management, EnerNOC's SaaS platform helps enterprises control energy costs, mitigate risk, and streamline compliance and sustainability reporting. EnerNOC also offers access to more demand response programs worldwide than any other provider, offering enterprises a valuable payment stream to further enhance bottom line results and utilities and grid operators a reliable, cost-effective demand-side resource. For more information, visit www.enernoc.com.
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