Mitsubishi Electric Power and its US subsidiary Mitsubishi Electric Power Products have reached an agreement to acquire UK-based DER management software provider Smarter Grid Solutions.
The deal helps the Japanese multinational energy company continue its expansion within the global energy market, specifically within the distributed energy resources (DER) management segment.
Commenting on Smarter Grid Solutions’ (SGS) products, Brian Heery, the CEO of Mitsubishi Electric Power Products, said: “They are committed to the mission of decarbonising 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.”
SGS provides solutions that help grid operators to integrate and manage DER for capacity management, flexible interconnection, virtual power plants, microgrids, fleet energy asset operations, and energy as a service.
Noriyuki Takazawa, Group President of Energy and Industrial Systems Group, of Mitsubishi Electric Corporation, added: “SGS offers innovative solutions that have helped power utilities in Europe and North America install, manage and optimise renewable energy resources, and we look forward to bringing that DER management core competency to new markets around the globe.”
The acquisition, once closed in the coming weeks, is expected to aid Mitsubishi Electric Power meet its sustainability target of decarbonising society by 2050.
SGS will maintain operations in Glasgow, Scotland and will report to Mitsubishi Electric Corporation’s subsidiary, Mitsubishi Electric Power Products, Inc which is based in the US.
The acquisition comes at a time when the deployment of DER is increasing at global scale to ensure secure energy supply, whilst decarbonising the energy sector.
However, the increased deployment has provided utilities with various challenges on how to manage them, and as such, the demand for advanced and automated solutions capable of optimising DER management is increasing.