EnerNOC to pay $26.5M for Global Energy Partners

EnerNOC has entered into a definitive agreement to acquire Global Energy Partners, an industry leader in designing and implementing utility energy efficiency and demand response programs. Through this acquisition, EnerNOC will expand its addressable market and will be able to deliver a broader, more integrated portfolio of world-class applications and services to its utility partners and commercial, institutional, and industrial (C&I) customer base.

“Our utility customers and prospects view demand-side resources as an integral component of their overall strategies,” said Tim Healy, Chairman and CEO of EnerNOC. “By joining forces with the Global Energy Partners team, EnerNOC is strengthening its ability to capitalize on this attractive market opportunity. We are eager to welcome Global Energy Partners and the utilities that it works with into the EnerNOC family, while at the same time, significantly enhancing the go-to-market reach for Global Energy Partners’ world-class solutions.”

“EnerNOC’s reputation for superior customer service, reliability, and technology applications and services is directly aligned with Global Energy Partners’ DNA,” said John Kotowski, CEO of Global Energy Partners. “Our combined experience working with hundreds of utilities throughout North America, our complementary technologies, and our shared commitment to partnership with our utility customers will empower us to deliver the industry’s most innovative and proven solutions.”

Global Energy Partners, a 55-person enterprise headquartered in Walnut Creek, California, operates across the United States. Its past and present clients include Pacific Gas & Electric , Southern California Edison,  Bonneville Power Administration, Duquesne Light Company, the Midwest ISO, Inland Power & Light, Oklahoma Gas & Electric, and Portland General Electric, among others.

Some immediate areas where the joining of EnerNOC and Global Energy Partners is anticipated to drive increased value include:

Integrated Commercial and Industrial Energy Efficiency and Demand Response Programs: Global Energy Partners has extensive experience designing and implementing turn-key, performance-based energy efficiency programs for utilities targeted at C&I customer segments. Combined with EnerNOC’s industry-leading presence in the C&I demand response market, EnerNOC will be able to better meet utilities’ growing needs for integrated energy efficiency and demand response solutions.

AutoDR: EnerNOC currently manages one of the largest portfolios of automated C&I demand response resources. Global Energy Partners has been an industry pioneer in implementing innovative AutoDR solutions, and has worked closely with Lawrence Berkeley National Laboratory to develop and test the OpenADR communications protocol. EnerNOC anticipates that AutoDR will become increasingly important to utilities and grid operators as more intermittent renewable resources are added to generation portfolios.

Customized Services: Lawrence Berkeley National Laboratory forecasts that utilities will spend as much as $12.4 billion on demand-side solutions by 2020. Global Energy Partners’ diverse range of services will enable EnerNOC to play a bigger role in the lifecycle of utility demand-side management initiatives, from energy planning and load analysis, to program design, implementation and evaluation.

The acquisition is scheduled to close in early 2011. EnerNOC anticipates this acquisition to be neutral to earnings in 2011, and accretive in 2012.

EnerNoc has now bought nine companies, including Cogent Energy (building management – Concord, CA) and eQuilibrium Solutions (carbon accounting – Boston, MA).
USA, Boston, MA & Walnut Creek, CA

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