Hitachi ABB Power Grids has signed a definitive agreement to acquire US-based Pioneer Solutions LLC, a provider of front-to-back-office commodities/energy trading and risk management solutions, headquartered in Denver, Colorado, USA.
As a result of this agreement, Hitachi ABB Power Grids will expand its existing Energy Portfolio Management offering to create new value for energy market participants who trade, hedge risk and track emission and renewable energy credits for electricity and other commodities, the company said in a press release.
The acquisition is expected to close in the fourth quarter of 2020.
