ENACT Systems, one of the leading companies offering software platforms to manage and deploy solar projects, has reportedly acquired Adara Power to strengthen energy storage and smart energy management capabilities.
For the record, ENACT’s solar digital platform is used by thousands of consumers in the Middle East, North America, and South Asia, in nine nations markets, with more than USD 1 billion of solar projects managed annually.
Established in 2013, Adara Power is an energy storage software company in the United States with experience in selling, designing, managing, and installing a fleet of commercial as well as residential energy storage projects.
Sources cite that this acquisition would enable ENACT to offer energy storage project execution and design capabilities on its solar platform. Moreover, it will strengthen the smart energy management landscape by utilizing the site controller on Adara’s iC3 platform to improve adjacent loads and hybrid solar & storage operations.
Neil Maguire, CEO of Adara Power, said that with the continuous decline in prices of Lithium-based storage solutions, the company anticipates faster adoption of onsite, stored energy in the forthcoming year. The need for backup power and grid resiliency is a huge driver in markets like the United States Northeast, California, and the Caribbean.
Maguire added that energy storage adds to deal difficulty and usually slow down commercial sales cycles. ENACT’s digital platform could substantially simplify energy and storage transactions, helping energy practitioners and consumers globally.
This move will help in offering energy storage domain expertise to corporate clients, solar project installation partners, in fields of design, regulations, procurement, incentive application packages, field deployment, technology selection, and interconnection.
Deep Chakraborty, CEO, ENACT Systems, claims that energy storage at a distributed scale has emerged as a game-changer for electricity consumers worldwide. Integrating solar and storage, powered by software-based control, enables affordable and reliable energy solutions.
He added that ENACT’s end-to-end, first-of-its-kind, cloud platform is growing from pure-play solar to comprehensive Smart-Energy solutions.