Enel Expands Partnership with New York Luxury Residential Real Estate Group Glenwood to Include Demand Response Services
- The partnership between the two companies started over five years ago focused on storage and, subsequently, solar-plus-storage solutions at Glenwood’s residential properties
Boston, May 16th, 2018 – The Enel Group’s advanced energy services division Enel X, through its US subsidiary EnerNOC, Inc., has signed an agreement with Glenwood Management, one of New York City’s largest developers, owners and managers of luxury, residential rental properties. Under the terms of the contract Enel X will provide Glenwood with demand response services across a number of buildings in their NYC real estate portfolio, helping the real estate company to maximise financial returns, while also supporting the growth and effective management of the city’s electric grid.
The demand response services provided through the agreement, which will begin during the summer peak load season, will complement Glenwood’s existing distributed energy resource (DER) portfolio, which includes 6.3 MWh of battery storage technologies and 2 MW of solar-plus-storage installations across its real estate portfolio.
“The expanded agreement with Glenwood, one of Manhattan’s leading players in sustainability, is exemplary of the type of flexible, integrated end-to-end solutions Enel X can offer its customers,” said Michael Storch, Head of Enel X in North America. “Through the suite of technologies we offer, from battery storage to demand response, our real estate clients can invest in an energy solution that helps to contribute to overall grid stability, while enabling reliable economic returns.”
Demand response programmes pay large energy consumers, such as manufacturing facilities, data centres, and commercial real estate companies, to adjust their power consumption, upon input from the transmission or distribution operator anticipating a need for additional electric supply, with the aim to stabilise the grid. Demand response can provide greater grid flexibility, stability, and more efficient use of power infrastructure, with a view to help maintain electricity prices as low as possible for all consumers.
In New York City, EnerNOC manages demand response for more than 200 commercial and industrial customers who, like Glenwood, participate in the Smart Usage Rewards programme created by the local utility, Consolidated Edison, which provides financial incentives in exchange for customers temporarily reducing their energy use during peak hours in the summer. By reducing energy use across its portfolio of buildings when called upon to do so by the local grid operator, Glenwood is able to contribute significant reliability benefits to the overall grid.
For over five years, Glenwood has partnered with Enel X subsidiaries, on storage-based solutions at a number of its residential properties. All of the systems are controlled by EnerNOC’s Distributed Energy Network Optimization System (DEN.OS), which aggregates and aims to optimise the performance as well as the financial returns of behind-the-meter storage systems.
The first distributed energy resource project at a Glenwood building was installed in 2012, when Glenwood added its first battery storage system controlled by DEN.OS at its Barclay Tower property. Since then, the company has been working closely with EnerNOC on an ongoing rollout of storage and solar-plus-storage systems across additional buildings for distributed grid support and increased savings opportunities. During 2018, 450 kW/1.3 MWh of battery storage systems will be installed in three more Glenwood properties. These additions will create a total portfolio comprised of 2 MW of solar-plus-storage distributed energy resource with 6.3 MWh of battery storage, and the combined demand response portfolio will amount to approximately 3.5 MW.
“We are expanding our partnership with Enel X by adding demand response to the portfolio of solutions that we are leveraging to reduce our energy costs, improve the resiliency of our buildings for our tenants, and support the stability of the power grid,” said Josh London, Vice President of Management, Glenwood Management. “Enel X provides differentiated solutions incorporating both traditional demand response and optimised distributed energy resources such as storage and solar. We look forward to continuing to expand our relationship with Enel X as we continue to explore new, cutting edge energy management solutions that allow us to improve our economics and efficiency and deliver a better tenant experience.”
In the US Enel X operates through EnerNOC, serving more than 3,600 customers and nearly 11,000 sites.
EnerNOC, an Enel Group Company, partners with enterprises to reduce costs, manage risks, increase sustainability, and maximise the value of emerging energy technologies through customised energy management strategies. EnerNOC is the global leader in demand-side flexibility services, providing large energy users access to more demand response and demand management programmes worldwide than any other provider. In addition to its flexibility solutions, EnerNOC’s technology-enabled advisory solutions help large energy users create value through strategic energy procurement, energy management, and other advanced services such as utility bill management software.
Enel X is a new Enel global business line dedicated to developing innovative products and digital solutions in sectors in which energy is showing the greatest potential for transformation: cities, homes, industries and electric mobility.
Enel is a multinational power company and a leading integrated player in the global power, gas and renewables markets. It is Europe’s largest utility in terms of market capitalisation and figures among Europe’s leading power companies in terms of installed capacity and reported EBITDA. The Group is present in over 30 countries worldwide, producing energy with around 88 GW of managed capacity. Enel distributes electricity and gas through a network of over 2 million kilometres, and with over 65 million business and household customers globally, the Group has the largest customer base among European competitors. Enel’s renewables arm Enel Green Power already manages around 41 GW of wind, solar, geothermal, biomass and hydropower plants in Europe, the Americas, Africa, Asia and has recently arrived in Australia.