February 19, 2020, Pleasanton, CA. ENACT SYSTEMS, the leading global software platform to deploy and manage solar projects announced an acquisition of ADARA POWER, to expand capabilities for energy storage and smart energy management. ENACT's digital platform for Solar Projects is actively used by thousands of users in North America, Middle-East and South Asia, in nine country markets, with over $1B of solar projects processed annually.
ADARA POWER, founded in 2013, is one of the early energy storage software companies in the US with experience in designing, selling, installing and managing a fleet of residential and commercial energy storage projects. ENACT SYSTEMS plans to expand its offerings through this acquisition:
- Offer Energy Storage Project Design and Execution capabilities on its Solar Software platform. This will enable solar installers to model different value streams from adding energy storage to existing and new solar installations, both residential and commercial projects.
- Expand Smart Energy Management capabilities, leveraging the site controller on ADARA's iC3 platform, to optimize hybrid solar and storage operations, and adjacent loads. This will be an open platform that integrates to multiple OEM brands for energy storage and solar inverters.
- Provide Energy Storage domain expertise to Corporate customers as well as Solar project installation partners, in areas of design, procurement, regulations and incentive application packages, technology selection, field deployment and interconnection.
"As the prices for Lithium-based storage solutions continue to decline, we expect faster adoption of onsite, stored energy in the coming years. The need for grid resiliency and backup power is a huge driver in markets like California, the US Northeast and the Caribbean" said Neil Maguire, CEO of ADARA POWER. "However, Energy Storage adds to deal complexity and typically slows commercial sales cycles. ENACT's digital platform can significantly simplify Solar and Energy Storage transactions helping customers and energy practitioner's globally", added Neil.
ADARA has deployed residential and commercial solar and storage solutions in multiple US states. ADARA offers a powerful storage monitoring application, as well as a firmware platform for energy management of storage solutions.
"Energy Storage at a distributed scale is emerging as a game-changer for global electricity customers. Combining solar and storage, powered by software-based control, allows reliable and affordable energy solutions”" said Deep Chakraborty, CEO of ENACT SYSTEMS. "ENACT's first-of-its-kind, end-to- end, cloud platform is expanding from pure-play solar to complete Smart-Energy solutions", Deep added.
About ENACT SYSTEMS INC.
ENACT SYSTEMS provides a powerful digital business platform for renewable energy project management: design, financing, installation management and asset management on a single cloudplatform. ENACT licenses its platform to project developers, installers and financiers in multiple countries. ENACT's customers are also large corporations in retail, hospitality, logistics and industrial segments seeking renewable energy deployment across their portfolio. ENACT SYSTEMS is headquartered in the San Francisco Bay Area with offices in India and UAE (www.enact-systems.com ).
About ADARA POWER INC.
Adara Power is committed to providing safe, reliable, intelligent, and connected solar energy storage for renewable energy. Adara Power’s Energy Storage Solutions are designed to support consumer self- consumption and enable a resilient, renewable energy grid in order to power a cleaner, sustainable planet. For more information, visit www.adarapower.com.
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