EnerNOC (ENOC) Acquires Largest Demand Response Provider In Australia & New Zealand

Posted by | # |
09:34:31 am on July 7, 2011

EnerNOC (ENOC) announced a big acquisition last night picking up the largest demand response provider in Australia and New Zealand.  The acquisition more than doubles ENOC’s capacity in western Australia to 240MW and marks the company’s entry into the eastern market as well as the New Zealand market for the first time.  ENOC will eventually be providing its real time monitoring suite of applications and services to Energy Response clients.  The acquisition is expected to be dilutive to earnings this year and next and accretive beginning in 2013.

===> Click Here For Your FREE Daily EnerNOC Analysis

"The electricity markets in Australia and New Zealand present tremendous opportunities for EnerNOC and Energy Response to join forces to provide a broad range of demand-side resources," said Tim Healy, Chairman and CEO of EnerNOC. "Energy Response shares our strong commitment to engaging electricity users to promote cost-effective, clean energy management solutions, and we look forward to delivering these solutions in markets where they are highly valued."

"As Australia and New Zealand move toward a lower-carbon energy future, solutions like demand response, carbon management, and data-driven energy efficiency will become even more important, both to electricity users and the nations’ electricity grids," said David Brewster, President of EnerNOC. "Our applications are built to serve utilities, grid operators, and electricity users across the globe. With Energy Response, we are very excited about expanding our capabilities to deliver these solutions in Australia and New Zealand."

Traders like this news bidding up shares of ENOC about 6%.  I actually think shares are beginning to look compelling down here at multi year lows as the stock makes its way back above the 50 day moving average today.  I think it’s just a bit too soon yet though to jump in.  I want to see a bit more bullish trading action before the pulling the trigger.

Tags: ,
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.


No comments yet.

Leave a comment