Energy Assets Group buys smart meter portfolio

Energy Assets Group buys smart meter portfolio: Macquarie Specialised and Asset Finance has reported selling its UK industrial & commercial (I&C) smart meter portfolio to Energy Assets Group.

It has removed Cortex Metering Solutions (CMS), which is in the UK I&C sector and a Meter Asset Provider (MAP) with over 600,000 meters leased to over 80 energy suppliers.

Smart meters give customers more information & control over their energy usage by contributing energy consumption data to customers & energy suppliers in close to real-time, with the rollout a primary facilitator in order to achieve a more efficient energy system.

Being an I&C multi-utility metering & data services business, Energy Assets is helping public & private sector organisations to enhance their energy efficiency by way of analytics and ground-breaking customer centred processes.

Macquarie is one of Britain’s biggest MAPs having a portfolio of over 11 million meters.

Neil Denley, a Managing Director for Macquarie Specialised and Asset Finance in EMEA stated: “The sale of part of our I&C portfolio will allow us to focus on our residential metering business – where we have an important role to play in helping meet our customers’ ambitious smart meter rollout targets.

“After a competitive process, we have chosen Energy Assets as a highly credible new owner, with longstanding experience and an impressive track record, who we believe can continue to deliver successfully for our commercial metering clients.”

Energy Assets added that the company is “delighted” to widen its reach concerning the I&C metering sector.

Chief Executive Colin Lynch announced: “This acquisition diversifies our metering portfolio, complements our offering and aligns with our strategy to be a leader in technologies and services that support energy efficiency and environmental sustainability in the I&C market segment. We very much look forward to working closely with our customers on this exciting phase for the Group.”

Energy Assets Group buys smart meter portfolio

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