EnerNOC Expands Footprint in Asia with 200 Megawatt Contract with Taiwan Power Company
March 08 2017 - 8:24AM
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.”
About EnerNOC
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.
Safe Harbor Statement
Statements in this press release regarding management's future
expectations, beliefs, intentions, goals, strategies, plans or
prospects, including, without limitation, statements relating to
the Company's future financial performance on both a GAAP and
non-GAAP basis, and the future growth and success of the Company's
energy intelligence software and demand response solutions, may
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 and other federal
securities laws. Forward-looking statements can be identified by
terminology such as "anticipate," "believe," "could," "could
increase the likelihood," "estimate," "expect," "intend," "is
planned," "may," "should," "will," "will enable," "would be
expected," "look forward," "may provide," "would" or similar terms,
variations of such terms or the negative of those terms. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors including those risks,
uncertainties and factors referred to under the section "Risk
Factors" in EnerNOC's most recent Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q, as well as other
documents that may be filed by EnerNOC from time to time with the
Securities and Exchange Commission. As a result of such risks,
uncertainties and factors, the Company's actual results may differ
materially from any future results, performance or achievements
discussed in or implied by the forward-looking statements contained
herein. EnerNOC is providing the information in this press release
as of this date and assumes no obligations to update the
information included in this press release or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
EnerNOC Media Relations:
Sarah McAuley
617.532.8195
news@enernoc.com
EnerNOC Investor Relations:
ir@enernoc.com
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