News and Announcements
China’s Narada partners with Electrify to roll out Smart Electricity Solutions across APAC
- Published July 12, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Electrify Asia is pleased to announce they have entered into a partnership agreement with Narada to roll out its PowerPod solution with their network across APAC.
In an agreement signed with the South-East Asia arm of China’s publicly listed Zhejiang Narada Power Source Co Ltd, Narada will leverage Electrify’s technology to enable traceability, real-time trading and optimization of distributed energy storage assets across its operations in APAC, with a view to deploy solutions in Singapore, Australia, Japan and Cambodia in 2018.
Under the terms of the partnership, Electrify will deploy its PowerPod technology alongside Narada’s energy storage platforms. The IoT (Internet-of-Things) enabled PowerPod captures and presents data on a visualization dashboard in real time, providing Narada with the ability to accurately track the movement and price of energy against the spot price of electricity in the market.
Headquartered in Hangzhou, China, Narada boasted the world’s second largest energy storage capacity in 2017, with gross revenue in excess of US$1.376 billion from the 150 countries it operates in globally.
“Narada remains deeply committed to building a clean and sustainable environment, seeking to achieve a balance between the economy and ecology through innovative use of energy storage technology. Together with Electrify, we are confident in achieving this vision, introducing greater energy intelligence to the Asia Pacific market,” said Jonathan Tai, a spokesman at Narada.
Coming hot off the heels of Electrify’s partnership agreement with TEPCO in April, and just in time for Singapore’s full liberalization of the national energy market, the Electrify team remain committed to forging strong and strategic partnerships across the Asia Pacific region to deliver smart electricity solutions.
“We believe the future of energy sustainability starts with smarter and more efficient energy ecosystems. This belief has guided the development of our technology and solutions. We are pleased to be able to work closely with Narada and they share our vision of building smarter, cleaner energy systems that will serve the grid more effectively,” said Martin Lim, Co-Founder and COO of Electrify.
About Electrify.Asia
ELECTRIFY is the first retail electricity marketplace in Southeast-Asia addressing the need for transparency and security in the energy market. With a GMV of over SGD$5 million to date, ELECTRIFY has transacted more than 30GWh of electricity for business consumers since incorporation.
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