Mitsubishi Electric seeks to expand North American grid foothold — SkimNews
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- Mitsubishi Electric reported a 20% year-over-year revenue increase in its utility-facing Infrastructure segment, driven by strong demand for power systems and renewable energy integration.
- Mitsubishi Electric will acquire PCI Energy Solutions for $1.4 billion by the end of 2026, gaining control of a platform that manages about 60% of U.S. power generation.
- Mitsubishi Electric and ABB announced a joint venture to manufacture low-voltage circuit breakers, uninterruptible power supplies, and smart meters, targeting North American grid modernization needs.
- Mitsubishi Electric expects the ABB joint venture to close by October 2027, combining ABB’s global distribution network with Mitsubishi’s industrial expertise.
- Mitsubishi Electric’s North American revenue grew only 5% in the first half of fiscal 2027, lagging behind 19% growth in Europe and 34% in China, highlighting its strategic push to accelerate in the region.
Why it matters: Mitsubishi Electric’s $1.4 billion purchase of PCI Energy Solutions gives it control over software managing most U.S. bulk power operations at a time of rising grid complexity, directly boosting its ability to monetize energy market volatility and renewable integration—key advantages over slower-moving competitors in North America.
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