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UPDATE 1-EnerNOC buys Energy Response to boost W Australia presence
July 6, 2011 / 8:47 PM / in 6 years

UPDATE 1-EnerNOC buys Energy Response to boost W Australia presence

* Deal for undisclosed amount

* Sees deal to be dilutive in 2011 and 2012

* Expects deal to add to earnings beginning 2013 (Follows alerts)

July 6 (Reuters) - Energy efficiency company EnerNOC Inc said it has bought Energy Response Pty Ltd, the largest demand response provider in Australia and New Zealand for an undisclosed amount, to strengthen its position in western Australia.

Demand response companies such as EnerNOC work with power grid operators, utilities and large power consumers to cut energy use during expensive peak hours, alleviating pressure on electricity grids.

The deal also marks the Boston-based company’s entry into the electricity markets of eastern Australia and New Zealand.

Energy Response has a network of commercial, institutional, and industrial demand response providers across Australia and New Zealand.

EnerNOC expects the deal to be dilutive to earnings in 2011 and 2012, but to add to earnings beginning 2013.

The company now has the opportunity to deliver 240 megawatts of demand response capacity in the 2012-2013 year, up from its initial position of 100 megawatts, it said.

EnerNOC shares closed at $16.22 on Wednesday on Nasdaq. (Reporting by Vaishnavi Bala in Bangalore; Editing by Joyjeet Das) ((vaishnavi.bala@thomsonreuters.com within U.S. +1 646 223 8780 outside U.S. +91 80 4135 5800 Reuters Messaging:vaishnavi.bala.reuters.com@reuters.net)0

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