EnerNoc Lands New Demand Response Contract In New Zealand
Continuing to recover the from the stock slide that began in November 2010, EnerNoc (ENOC :NASDAQ) scored another new customer victory as it signed New Zealand’s Genesis Energy to a 20 megawatt demand response contract.
EnerNoc started providing the service last month and the contract can be increased to 50 MW in two years.
The Boston-based energy solutions company has been providing demand response energy answers in the New Zealand market for over 5 years.
EnerNoc’s solution is a good fit for a country that derives over 70 percent of its electricity from renewable energy resources. Wind power currently accounts for 5 percent of the energy mix and is expected to climb as high as 20 percent by 2030.
New business wins definitely encourage shareholders as the company finds itself up 3.19 percent over the last year, distancing itself from most solar companies whom have not enjoyed similar success.
Shares of EnerNoc were up 5.27 percent in afternoon trading.