Enel has been issued a retail energy licence that will allow it to enter the National Energy Market in Australia backed by generation assets owned by its clean power arm.
The energy company was given authorisation by the Australian Energy Regulator this week, through which it will take advantage of existing operations within the county and bring forward a globally established retail model.
Enel said it will initially target commercial and industrial customers with a view of expanding to residential customers as its renewable pipeline grows.
It added that it will offer up to 100% renewable energy supply to enable customers to meet their sustainability objectives at competitive costs.
This is backed by Enel Green Power’s renewable generation assets bundled with Enel X’s market-leading technology platforms including its Virtual Power Plant (VPP), onsite battery energy storage systems, and electric vehicle charging solutions.
Enel said it will approach commercial and industrial customers in December, anticipating a strong response from businesses seeking new ways to decarbonise their operations while improving their bottom line.
Enel Green Power Australia country manager Werther Esposito said: “With access to Enel Green Power’s portfolio of wholly green energy assets, Enel is a one stop shop ‘greentailer’ delivering energy from Australia’s abundant renewable resources for the country’s clean energy future.
“The Enel retail offering will provide exclusive access to Enel Green Power’s innovative renewable energy mix.
“As Enel’s customer base grows, so too will Enel Green Power’s diversified asset base which will directly service the growing demand.”
Enel X Head of Asia Pacific Jeff Renaud said the: “As a vertically integrated retailer with wholly owned assets, and a global leader in demand response services through complementary digital technology platforms, Enel’s green retail offering will be unique in the marketplace.
“Leveraging Enel X’s platforms, customers can access new opportunities to decarbonise, digitalise and electrify their energy use.
“For example, customers connected to our VPP can provide instant, dispatchable capacity to support the grid’s fluctuating power needs.
“For participating businesses, this generates a significant new revenue stream, contributes to sustainability targets, and supports Australia’s path to net-zero emissions by balancing more renewable power sources on the grid.”
Enel said that it currently has 310MW of capacity available through three solar plants in Australia.
Enel X operates Australia’s largest VPP with more than 350MW under management that integrates distributed energy assets including onsite BESS, backup generation, and various forms of commercial and industrial demand response, the company added.