The acquisition is expected to unlock gigawatts of behind the meter renewable generation and consumer flexibility.
The acquisition brings together Australia and New Zealand smart metering Intellihub’s advanced smart metering platform with GreenSync’s cloud-based distributed energy resource interoperability software deX.
DeX is a digital platform that enables distributed resource registration, near real-time visibility and the control and data management required for virtual power plant (VPP) participation.
It is being used in the majority of newly connected solar homes in South Australia for compliance with emergency backstop provisions, which demand remote disconnection in emergency situations.
It was also recently selected by Western Australian based energy retailer Synergy to deliver a universal solution for emergency solar management across the state’s South West Interconnected System.
Intellihub CEO Wes Ballantine said the acquisition was strategically important as the energy sector grapples with the rapid increase of household renewable energy systems.
“There’s about one gigawatt of renewable energy generation capacity sitting behind Intellihub’s smart meters,” he said, adding that it is expected to grow to three gigawatts over the next few years.
“There’s also a growing level of dispatchable resources like pool pumps, hot water systems and electric vehicles. Together this is a large source of flexible and controllable generation and demand side resources – but their value is not being realised.
“The deX platform is perfectly geared to partner with the edge computing capability in our new smart meters to access this flexible generation via VPPs.”
GreenSync CEO Bruce Thompson says that the deX platform is now being used by 95% of major global solar and storage inverter original equipment manufacturers (OEMs).
Intellihub is Australia and New Zealand’s largest smart metering provider, with more than 1.2 million smart meters under management and by the end of 2022, it expects its smart meter installation rates to double to 2,000 meters a day.
In December 2021 global infrastructure investor Brookfield became a 50% joint partner in the Intellihub business alongside Pacific Equity Partners.
Over the past 10 years, GreenSync has received investment support from Australia’s Clean Energy Finance Corporation, and more recently its deX platform has been supported by the Australian Renewable Energy Agency.
GreenSync will become part of Intellihub’s new technology development arm known as CrescoNet led by experienced energy and smart grid engineer Adrian Clark.