FRANKFURT, July 1 General Electric is
looking for acquisitions in smart grid technology, the head of
the U.S. company's northern and eastern European smart grid
business told Financial Times Deutschland.
"The fact that smart grids are now becoming reality is
attracting a lot of investors and potentials buyers," the paper
quoted Keith Redfearn as saying in an article published on
Smart grids are electricity networks that integrate
generators and consumers to make power supply more efficient and
They require new communications systems, data integration
and other software, smart meters, security systems and a host of
The European Union wants about 80 percent of households to
be equipped with smart meters by 2020.
"Germany is still a bit behind on this, especially because
government support is not so pronounced," the paper quoted
Redfearn as saying.
He said the push for investments was bigger in countries
with less-developed electricity grids and in emerging markets,
in which energy demand is rising rapidly.
Japanese electronics manufacturer Toshiba Corp last
month agreed to buy unlisted Swiss-based meter maker Landis+Gyr
in a deal valued at $2.3 billion in a bid to move into the
promising overseas smart grid market.
This month, France's Schneider Electric said it
would buy energy software provider Telvent for $1.36
billion as part of its push into energy efficient grids and
(Reporting by Maria Sheahan; Editing by Hans-Juergen Peters)