Mitsubishi Electric Corporation has announced, together with its U.S. subsidiary Mitsubishi Electric Power Products, Inc., that it has entered into an agreement to acquire UK-based Smarter Grid Solutions (SGS).
Mitsubishi Electric Corporation has announced, together with its U.S. subsidiary Mitsubishi Electric Power Products, Inc., that it has entered into an agreement to acquire UK-based Smarter Grid Solutions (SGS).
Electric grid operators throughout the world are experiencing an increasingly complex mix of new decentralized power generation and clean energy resources. SGS offers highly flexible, scalable controls solutions allowing users to integrate DER for capacity management, flexible interconnection, virtual power plants, microgrids, fleet energy asset operations and energy as a service.
“We are very excited to bring SGS into Mitsubishi Electric. They are committed to the mission of decarbonizing electric power production and have spent the last decade developing world-class products and processes. We look forward to marrying their products with our suite of grid control products to help our customers respond to changes and still get the best performance from their electric grids.” said Brian Heery, President and CEO of Mitsubishi Electric Power Products, Inc.
“SGS offers innovative solutions have helped power utilities in Europe and North America install, manage and optimize renewable energy resources, and we look forward to bringing that DER management core competency to new markets around the globe,” said Noriyuki Takazawa, Group President of Energy and Industrial Systems Group, of Mitsubishi Electric Corporation. “The SGS solutions align with the Mitsubishi Electric Environmental Sustainability Vision to realize a decarbonized society by the year 2050 through reduced greenhouse gas emissions.”
“We are thrilled to join Mitsubishi Electric and expand the reach of our energy management enterprise software to DER customers around the globe and – in turn – assist those customers to better manage DER assets as they strive to decarbonize their operations,” said Brent Marshall, CEO of SGS.
The acquisition is expected to close in the next several weeks. Upon close, SGS will maintain operations in Glasgow, Scotland and will report to Mitsubishi Electric Corporation’s subsidiary, Mitsubishi Electric Power Products, Inc.
