Mitsubishi Electric Corporation, and its subsidiary Mitsubishi Electric Power Products, Inc., have announced that they have entered into an agreement to acquire UK-based Smarter Grid Solutions (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 control solutions allowing users to integrate DER for capacity management, flexible interconnection, virtual power plants, microgrids, fleet energy asset operations and energy as a service.
Brian Heery, President and CEO of Mitsubishi Electric Power Products, Inc (MEPPI), said that they are very excited to bring SGS into Mitsubishi Electric. SGS is committed to the mission of decarbonizing electric power production and has spent the last decade developing world-class products and processes. He also said that they look forward to marrying their products with their suite of grid control products to help their customers respond to changes and still get the best performance from their electric grids.
Noriyuki Takazawa, Group President of Energy and Industrial Systems Group, of Mitsubishi Electric Corporation said that SGS offers innovative solutions that have helped power utilities in Europe and North America install, manage and optimize renewable energy resources, and they look forward to bringing that DER management core competency to new markets around the globe. 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.
Brent Marshall, CEO of SGS said that they are thrilled to join Mitsubishi Electric and expand the reach of their 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.
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.