PPL Montana sold its hydroelectric facilities to NorthWestern Energy for $900 million; Chesapeake Utilities sold BravePoint; Echelon completed the sale of its grid operations to S&T AG; Plus a debt redemption from Virginia Electric & Power, a private placement offering from DPL, and an IPO for Dominion Midstream Partners.
Pioneer Green Energy acquires Logan Gap wind project, agreement reached for Exelon to purchase Integrys Energy Group, AES agrees to purchase equity interest in SYND Holdco Ltd., Canadian Solar Solutions sells solar power plant Goo Light.
Echelon signed a definitive agreement to sell its grid operations to S&T AG, a publicly traded European IT systems provider. The companies expect the deal to close by the end of the year. Under the terms of the agreement, Echelon will receive approximately $5 million in upfront consideration, dependent in part on the value of net assets at closing. Echelon will also become a supplier of its narrowband high-reliability power line communications chips to S&T for use in their smart meters and related products.
Echelon and its partner Kapsch Smart Energy won several key pilots with leading Austrian utilities Wien Energie, IKB and Steiermark. The pilots are being prompted by a new energy edict in Austria that requires utilities to achieve specific grid modernization goals by 2019. The Echelon NES platform is operating as a fully integrated solution with the Kapsch smart energy management meter data management software.
Echelon was selected to provide smart grid systems for the Smart Grid Gotland project, a large-scale, technology demonstration on the island of Gotland, Sweden. The project is sponsored by a joint venture between Vattenfall, Gotland Energy, ABB, Swedish National Grid, Schneider Electric, and the Royal Institute of Technology, and and is partly financed by the Swedish Energy Agency. Echelon will provide its edge control node, its control operating system (COS) -based application platform, and 3,000 advanced grid sensors, which also provide smart metering functionality.
(December2012) KC Electric Association expects soon to finalize installing a Sensus FlexNet network and iCon A electric meters to serve about 4,000 residential and small commercial members across a 5,000-square-mile territory in rural Colorado. Itron and C3 Energy formed an alliance to integrate and jointly market an energy management solution to North American utilities. And others...