Accenture and Siemens start smart grid Joint Venture

01 November 2013 1 min. read

Accenture and Siemens have formed a Joint Venture that will focus on smart grid energy solutions. The new entity, named Omnetric Group, will be based in Munich, Germany, and initially serve customers in Europe and the United States. The partners have announced an ambitious growth strategy: in the first year the energy company should grow to 100 employees and within five years it is envisaged to have a global footprint.

Financial details of the Joint Venture agreement have not being disclosed.

Accenture will provide Omnetric Group with management consulting, systems integration and managed-services capabilities. Siemens will bring in its existing wide-range of smart grid products and solutions. The combined service portfolio will focus on integrated operational technologies - such as distribution management and real-time grid operations - with IT systems supporting smart metering, energy consumption and asset management.

Accenture - Siemens - Smart Grid Joint Venture

“Combining the strengths of Siemens and Accenture will enable Omnetric Group to deliver the highest level of expertise and execution to a rapidly evolving global utility market”, says Jan Mrosik, CEO of the Smart Grid Division of Siemens.

Jack Azagury, global managing director for Accenture Smart Grid Services, adds: “Utilities are seeking ways to increase capital effectiveness and reduce their costs of operations. Doing so requires an enterprise view of systems and data through the integration of traditional IT solutions with the operational solutions required to manage the grid. Omnetric Group will be uniquely positioned to help utilities realize this objective.”

Partnership met Philips
For Accenture it is the second partnership with a leading industry player in short time. Early October it announced that it had developed a technology which can help doctors to - through Google Glass technology - operate in a 'hands free' manner. The innovation is the result of a strategic partnership with Philips.