Mitsubishi Electric to acquire Smarter Grid Solutions
Japan, Tokyo: Mitsubishi Electric Corporation announced on 10 August the acquisition of Smarter Grid Solution (SGS).
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Japan, Tokyo: Mitsubishi Electric Corporation announced on 10 August the acquisition of Smarter Grid Solution (SGS).
Together with its U.S. subsidiary Mitsubishi Electric Power Products, Inc. (MEPPI), the company has entered into an agreement to acquire UK-based SGS. SGS is a leading global provider of distributed energy resources (DER) management software for power distribution utilities and DER operators.
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.
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.
Source: Mitsubishi Electric
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