Generac Accelerates Its Energy Technology Capabilities With Acquisition of Enbala Power Networks
Acquisition advances Generac into the rapidly growing virtual power plant and smart grid services markets
WAUKESHA, Wis., Oct. 05, 2020 (GLOBE NEWSWIRE) -- Generac Holdings Inc. (“Generac” or the “Company”) (NYSE: GNRC) today announced the signing of an agreement to acquire Enbala Power Networks Inc.
(“Enbala”), a leading distributed energy resources technology company. The deal solidifies Generac’s position as a market leader in Smart Grid 2.0 technologies and opens opportunities for the
Company as a grid services provider.
Denver-based Enbala is one of the leading providers of distributed energy optimization and control software needed to ensure the operational stability of the world’s power grids. Its Enbala Concerto platform is being used by utilities and energy retailers around the world to leverage the power of distributed energy resources (DERs) to respond to the real-time energy balancing needs of power systems and energy markets.
“We’re on the leading edge of a remarkable transformation of the electrical grid, moving from a dated and centralized power distribution model to one that will be digitized, decentralized and more resilient,” said Aaron Jagdfeld, Chief Executive Officer of Generac. “Enbala is a proven virtual power plant and distributed energy resource management platform, and we believe their business model can be incredibly synergistic with our business. We’re proud to be at the forefront of the Smart Grid 2.0 with these new capabilities.”
With thousands of megawatts of residential and industrial standby power generation installed in the United States, Generac’s products can be leveraged in virtual power plant (VPP) and distributed energy resource management system (DERMS) markets. The Enbala Concerto software platform enables the connection of DERs to register and participate in distributed energy aggregation and control programs. This means otherwise dormant back up power generation assets can come online as part of a distributed energy solution and generate revenue for the asset owner.
As utility companies adopt cleaner forms of energy while simultaneously dealing with power disruptions, the opportunities to optimize the grid with DERs are becoming more creative. Residential and C&I rooftop solar, behind-the-meter battery storage systems, electric vehicles and flexible electricity load management are key asset components of a healthy future for Generac and distributed energy resources management.