GE invests in Power Generation Services, supports utility grid modernization
PoGens is a turnkey provider of managed energy services for distributed generation and distributed energy resources in North America. Terms of the transaction were not disclosed
General Electric (GE) made a minority investment in Power Generation Services Inc. (PoGens). PoGens is a turnkey provider of managed energy services for distributed generation and distributed energy resources in North America. Terms of the transaction were not disclosed.
With utilities looking for alternate ways to modernize their grids, many have turned to cloud-based technology like GE’s Grid IQ Solutions as a Service (SaaS) platform, which provides all of the benefits of a modern grid at a fraction of what it would cost a utility to completely overhaul its existing infrastructure.
In the near future, GE will add the PoGens capability to its suite of Grid IQ offerings to form an offering which combines GE’s grid monitoring, outage detection and asset management technology with PoGen’s commercial generation assets to provide customers, such as utility companies, with tools to improve the reliability, productivity and efficiency of their electrical distribution systems.
Grid IQ SaaS, one of GE’s Industrial Internet technologies, provides small- and mid-market utilities with the grid-modernization technology they need without the overhead expenses associated with developing their own smart grid networks. The solutions included in GE’s SaaS offering, along with the advanced capabilities of PoGens, empower utilities of all sizes to create modern, interconnected grids to meet the needs of today’s ever-evolving businesses.