EnerNOC Enters JV with Marubeni Corporation to Provide Demand Response in Japan
EnerNOC (Nasdaq: ENOC) announced that EnerNOC and Marubeni Corporation have entered into an agreement to form a joint venture (JV) to provide demand response (DR) in Japan. The new company will be named EnerNOC Japan, KK and will have an exclusive license to market EnerNOC's DemandSMARTTM cloud-based DR application throughout the country. The two firms also announced today their award of a government-sponsored DR program with the Tokyo Electric Power Company (TEPCO), Japan's largest utility.
The JV will bring together EnerNOC's expertise as the world's largest provider of DR, with Marubeni's vast expertise and leadership position in both the electric power sector and the Japanese market. This JV will build upon successful past collaborations between the firms in Japan, most notably their joint participation in a DR pilot program with Kansai Electric Power Company (KEPCO) in the summer of 2012.
As the world's third largest economy, Japan's electric demand is similar to that of the PJM Interconnection in the United States, EnerNOC's largest market. The TEPCO system alone is comparable in peak demand to that of ERCOT (Texas) or National Grid (UK). The electric power industry in