Navigant sees rise in grid cybersecurity spending
Navigant Research is reporting today that it foresees global spending on grid cybersecurity growing from $1.8 billion in 2017 to nearly $3.2 billion in 2026.
“The proliferation of the smart grid and Internet of Things (IoT) has led to the deployment of billions of networked sensing devices, increasingly further out to the grid edge,” says Michael Kelly, research analyst with Navigant Research. “While this paradigm shift has led to unprecedented data collection, network visibility, and situational awareness, it has also drastically increased utility vulnerability.”
Microgrids – especially cybersecure microgrids – are increasingly being discussed as a way to ensure grid cybersecurity and keep the power flowing to critical facilities.
Navigant says that exponential growth in the number of attacks and threat actors is shaping a business environment in which the question utilities now face is when an incident will occur—not if.
A summary of the report, Cybersecurity for the Digital Utility, is available for free download on the Navigant Research website.
Enel completes EnerNOC acquisition
Enel Green Power North America has completed its $250 million purchase of EnerNOC, and is now sole owner of the U.S.-based demand response company.
Enel acquires EnerNOC’s more than 8,000 customers, 14,000 sites under management and a total of 6 GW of demand response capacity.
EnerNOC has active demand response networks in North America, Europe and Asia-Pacific. It also offers an energy intelligence software that enables businesses to boost facility efficiency, simplify utility bill management and ease reporting burdens. The company’s energy procurement tools and services help customers buy energy more strategically, manage risk, and optimize pricing.
Headquartered in Andover, Massachusetts, Enel Green Power Group is a subsidiary of the global energy giant Enel Group.
Zoma invests in Enbala
Zoma Capital has made a new investment in Enbala, bringing its over-subscribed Series B financing to $17.5 million.
The investment arm for the Denver-based family office of Ben and Lucy Ana Walton, Zoma Capital invests in a broad range of market-based sustainable solutions addressing environmental and social problems, with an emphasis on energy, water and community development and with a geographic focus on Colorado and Chile.
“Our investment in Enbala will enable utilities, energy service companies and commercial enterprises to accomplish their common goal of more efficiently utilizing distributed and renewable energy resources. The investment in Enbala also supports Zoma’s organizational goal of having an impact within our local communities,” said Melissa Cheong, Zoma’s chief investment officer.
Other investors for Enbala’s Series B include ABB Technology Ventures, National Grid, GE Ventures, Obvious Ventures, EnerTech Capital and Chrysalix Venture Capital.
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