Macquarie Specialised and Asset Finance has sold its U.K. industrial and commercial smart meter portfolio, Cortex Metering Solutions (CMS), to Energy Assets Group.
According to Macquarie, CMS has rented more than 600,000 meters to more than 80 energy suppliers throughout Great Britain. The firm says smart meters are the next generation of gas and electricity meters, and that the rollout of smart meters is a key enabler of a more efficient energy system. This is expected to play an important part of the United Kingdom’s energy mix as the country strives to meet its 2050 carbon targets.
“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,” said Neil Denley, a managing director for Macquarie Specialised and Asset Finance in EMEA. “After a competitive process, we have chosen Energy Assets as a highly c