The Siemens (News - Alert) Smart Grid Division announced the signing of a memorandum of understanding with Iberdrola to build infrastructure for deploying smart grid technologies in the Middle East. As per the terms of the memorandum, the companies have expressed interest to undertake the contract through a strategic alliance. Following the development, the alliance would develop smart grid technologies for water and energy sectors, first in Qatar and then the rest of the Middle East region.
In a release, Jan Mrosik, Chief Executive Officer of the Siemens Smart Grid Division, said “Through this unique alliance, we will combine our expertise as a technology leader in the energy industry with the experience of one of the most important utilities worldwide. This gives us the opportunity to understand our customers’ requirements even better.”
The alliance is expected to focus on integrating solar and wind energy into smart grids. The companies would also jointly focus on developing demand response management system for balancing the demand and supply of energy. This system will enable utilities to maintain network stability and also eliminates the chances of drawing power from expensive peak-load plants. Further, the companies intend to join forces in the management, monitoring and control of power distribution grids in the region by leveraging on advanced technologies to better manage outages and advanced grid automation.
Speaking of the alliance with Smart Grid Division of Siemens, Augustin Delgado, Innovation, Environment and Quality Director at Iberdrola, said “This alliance is an extraordinary opportunity to introduce successful technological transfer projects to the region, while adding value for customers through the proven experience of two leaders in their respective sectors, such as Siemens and Iberdrola.”
The Siemens Smart Grid Division is engaged in providing a comprehensive range of products and solutions for developing smart energy networks. The company’s customers include power distribution companies, industrial enterprises, network operators and city municipalities.
Iberdrola is one of the top five European companies in the energy utilities sector with business interests in energy generation, management of supply, quality assurance and innovation in the utilities sector. With over 150 years of existence, the company boasts of a customer base of 32 million users across the globe.
Edited by Cassandra Tucker