The acquisition of Smarter Grid Solutions (SGS) by Mitsubishi Electric Corporation and Mitsubishi Electric Power Products has closed.
Announced earlier this month, the deal is to help expand the reach of SGS’s energy management enterprise software to distributed energy resources (DER) customers round the globe.
While the transaction has now closed, financial terms have not been revealed.
SGS will report into Mitsubishi Electric Corporation’s North American power systems subsidiary, Mitsubishi Electric Power Products, and will maintain operations in Glasgow, Scotland.
SGS's software is used to manage power grids and market participation in energy systems with high penetrations of distributed, clean and flexible energy assets.
In January, the company announced it was to provide active network management in the QUEST project using its Distributed Energy Resource Management Systems (DERMS) software, with the project looking to free up network capacity for over 2GW of clean energy assets and save networks over £250 million.
Graham Ault, executive director of Smarter Grid Solutions, recently wrote an in-depth explanation of the need for DERMS and how it could help make the energy transition smoother and more cost effective for Current±