EnerNOC's Demand Response Portfolio in Korea Surpasses One Gigawatt
BOSTON, Nov. 03, 2016 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software (EIS) and demand response solutions, announced today that its demand response portfolio in Korea surpassed one gigawatt—roughly equivalent to the amount of power generated by a nuclear power plant.
EnerNOC entered the market in late 2014, following legislation earlier that year that introduced demand response into the country's wholesale capacity market. Since establishing operations in Korea, EnerNOC has become the preferred demand response provider to some of the region's largest enterprises, public institutions, and universities, including S-Oil, COEX, Korea University, and Seoul City Government.
"We partnered with EnerNOC because they're the world's leader in demand response. They have the experience we rely on to ensure that we can participate in demand response without compromising our operations," said JaeHee Kang, Facility Manager at Korea University.
Demand response has grown rapidly in Korea, propelled by the government's strong commitment to creating a sustainable and competitive market and EnerNOC's ability to leverage its industry-leading technology and experience to scale quickly.
"Korea relies on fuel imports to meet nearly 100% of its electricity needs. Demand response gives the Korean government increased flexibility to meet demand in a clean, cost-efficient way, with a reliable domestic energy resource, while at the same time allowing Korean businesses to use their flexibility to earn valuable new revenue streams," said David Brewster, President, EnerNOC.
"Our success in Korea has been instrumental in stimulating interest throughout Asia. We're excited about the emerging opportunities we see on the horizon to make DR a more integral part of the resource mix throughout the region," added Brewster.
EnerNOC is a leading provider of energy intelligence software (EIS) and demand response solutions. With capabilities to better address budgets and procurement, utility bill management, facility analysis and optimization, sustainability and reporting, project tracking, and demand management, EnerNOC's SaaS platform helps enterprises control energy costs, mitigate risk, and streamline compliance and sustainability reporting. EnerNOC also offers access to more demand response programs worldwide than any other provider, offering enterprises a valuable payment stream to further enhance bottom line results and utilities and grid operators a reliable, cost-effective demand-side resource. For more information, visit www.enernoc.com.
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