The Board of Directors of Pacific Gas & Electric Corporation will elect a new lead executive in the coming weeks in light of current Chairman, CEO and President Peter Darbee’s announced retirement, effective April 30, 2011. The company’s utility unit, Pacific Gas and Electric (PG&E) Company, will continue to be led by President Christopher P. Johns.
Seven leading global smart grid organizations have founded the Global Smart Grid Federation (GSGF), an international organization with a mandate to promote best practices and to accelerate the deployment of smart grids and associated technology around the world. The founding members of GSGF are either national smart grid policy organizations or advocacy groups: GridWise Alliance (United States); India Smart Grid Forum; Japan Smart Community Alliance; Korean Smart Grid Association; Smart Grid Australia; SmartGridIreland; and SmartGrid Canada. Each is represented by their respective chairman, president, or equivalent officer on the Board of Directors.
Ron Sege, former president and chief operating officer of 3Com, has been appointed president and CEO of Echelon and is also joining the company’s board of directors. Estimated to be worth $100 million, Echelon, specializes in smart grid technology.
Dynegy Inc. announced it will be acquired by an affiliate of The Blackstone Group L.P. The deal is valued at approximately $4.7 billion, which includes the assumption of existing debt. Under the terms of the merger agreement, Dynegy stockholders will receive $4.50 in cash for each outstanding share of Dynegy common stock they own.
To advance its European green energy initiative strategy, Alternative Energy Partners (AEGY) reports that its subsidiary Skynet Energy Systems has entered into an agreement with Suna Energy, Inc. “that will allow Skynet to be part of a minimum guaranteed sale of 20MW energy at local prices starting at $0.42/kwh for an estimated 1600 hours per year.” A Letter of Intent for land acquisition and an environmental engineering report are also underway.
Direct Grid Technologies, LLC, announced it has formed a five person strategic advisory board to enhance the direction of its smart grid and photovoltaic (PV) micro inverter design and manufacturing business. Direct Grid Technologies designs and manufacture utility grade microinverter solutions for the PV solar market, including the OEM and SMART Series micro inverters, access node modules (communication gateway) and PV monitoring services.
Wireless Grids Corporation (WGC) and Summerhill Biomass Systems have agreed to conduct a product trial of Wireless Grids Corporation’s software product for smart grid (automated) control of Summerhill’s biomass energy systems. The trial will take place at several locations in New York State.