Agder Energi Venture have bought 100% of the shares of Entelios AG from EnerNOC, Inc. (ENOC) in a move to position itself further in Continental Europe.
Entelios AG is a leading provider of demand response in Germany. Entelios’ main business is aggregating and managing customers’ commercial and industrial loads, storage, and decentralized generation to participate in energy markets for flexible resources, including the ancillary services markets. Given the increasing level of intermittent renewable energy resources in its electricity system and the changing mix and number in the generation portfolio, Germany has a growing need for resources which can balance power supply and demand. Entelios has built a technology platform that meets the requirements of all four transmission system operators in Germany to deliver demand response resources to help manage the system imbalances. To ensure continuity, EnerNOC will provide operational support to the portfolio through its Network Operations Center in Dublin, which will have the responsibility for managing real-time dispatch and portfolio compliance.
“We look forward to work together with our new strategic shareholder and their partners to achieve our goals going forward and to provide the solutions for a reliable energy system to meet the future needs” says Alois Wichtlhuber, CEO of Entelios AG.
“The investment in Entelios is an exciting opportunity to expand our focus on demand response and position Agder Energi for the ongoing changes in the European power markets. Agder Energi is now positioned with both an innovative green production aggregator, a principal aggregator of industrial demand flexibility, and the leading software development resources, providing us with the tools to allocate flexibility to the most valuable sub-markets.” says Tor Øystein Repstad, CEO Agder Energi Venture.
Agder Energi Venture (AEV), a subsidiary of Agder Energi, invests in energy related companies that are in an early to mature phase. Agder Energi is one of the leading companies in the Norwegian renewable energy sector. The group’s operations include the production, distribution and sale of energy and energy-related services. Agder Energi is Norway’s fourth largest energy group in terms of hydroelectric production. The group’s 48 wholly and partly-owned power stations produce around 8,1 TWh of renewable energy on an annual basis.
“Entelios is a leading demand response provider in Germany with a forward leaning and competent staff. This investment is a great opportunity for us to accelerate our demand response initiatives in Europe.” says Harald von Heyden, who has entered the role as co-CEO of Entelios AG in addition to his roles as co-CEO of Nordgröön Energie and CEO of Enfo AS. (Enfo AS is also owned by AEV).
Germany is a frontrunner in the development of the European energy markets. Services for flexibility control and automated trading systems, as well as access to short-term markets, are increasingly important. Agder Energi is now able to deliver a range of services and products to European counterparties, as well as developing the other core business in line with changes in the energy markets.
Read more about it in Europower.
Tor Øystein Repstad: (+47) 906 96 862
Harald von Heyden: (+47) 922 88 103
Alois Wichtlhuber: (+49) 89 552 9968 – 14