GE Expands Smart Grid Portfolio, Extends its Reach in IrelandPDF
GE’s Acquisition of Ireland-based FMC Tech will allow real-time power line monitoring capabilities to benefit customers in Ireland and around the world
GE Continues to Invest in the Island of Ireland and Encourage Smart Grid Development
Cambridge, United Kingdom —July 21, 2011 — GE (NYSE: GE) announced today that it has finalized the acquisition of Ireland-based FMC-Tech, a leading provider of smart grid technology equipment providing real-time power line monitoring capabilities. The acquisition, first announced in May, marks another milestone in both GE’s dedication to smart grid excellence and its commitment to smart grid development in the United Kingdom and Ireland.
“GE is committed to innovatively solving our customers’ toughest challenges with more efficient, reliable and sustainable energy solutions,” said Keith Redfearn, General Manager—Digital Energy for GE Energy in Europe. “FMC-Tech solutions are at the forefront of a new wave of technologies allowing utilities to remain competitive and capable of meeting the challenges of the 21st century grid.”
FMC Tech comes to GE with utility experience and backing. ESB Networks has worked with the FMC-Tech team on pilot trials of their intelligent network sensors. According to ESB, the deployed system has proven to be highly effective in the areas of network monitoring and fault detection, delivering a significant reduction in outage duration.
GE has also demonstrated its commitment to smart grid development in Ireland by supporting Smart Grid Ireland (SGI). SGI is a group of international and local businesses facilitated by the Center for Competitiveness, focused on articulating the benefits of smart grid to promote sustainability and economic growth throughout the region.
This past March, GE’s Paddy Turnbull participated in SGI’s smart grid pilot proposal to Northern Ireland Minister for Enterprise, Trade and Investment Arlene Foster. The pilot would allow for a greater number of renewable energy sources such as wind, wave and solar energy to be connected to the existing electrical network—reducing carbon emissions and ensuring energy security and reliability.