General Electric (NYSE:GE) has recently announced the acquisition of Opus One. Opus is a software that works to manage distributed power assets such as energy storage, solar power, and wind farms. Terms of the deal were not disclosed.
The purpose of the acquisition is for GE to take a strategic step towards a higher-margin business that customers can use to help manage future increases of demand for renewable power generation. A major area of concern for renewable energy is storage, and renewable power generation makes managing and distributing that power across the power grid more complicated. This is also true for EVs, as the demand for non-ICE vehicles continues to grow due to regulatory changes and market demands, the more use that a complex power grid will face. This acquisition for GE sets to face those growing challenges.
“Electric utilities around the world face new obstacles with the rapid growth of renewables and [distributed generating resources],” said Jim Walsh, general manager of GE Digital’s Grid Software business, in a company news release. “With increased demand for renewable energy and electric vehicles in every region, challenges for grid and market operators are more acute every day.”
Quazar was not involved in this transaction.
Read more here: https://www.barrons.com/articles/ge-stock-evs-opus-one-acquisition-51640097518
