Accenture and Siemens have established a joint venture (JV) company, called Omnetric Group, focused on smart grid solutions.

Headquartered in Munich, Germany, the company brings together Siemens’ smart grid products and solutions, and Accenture’s management and technology consulting, systems integration and managed-services capabilities.

Specifically, the company will provide utility companies with advanced smart grid solutions and services focused on data management and systems integration to boost energy efficiency, grid operations and reliability.

Integrated with distribution management and real-time grid operations with IT systems, such as meter data management, the solutions will support smart metering, demand response to manage energy consumption and virtual power plants to enable load management.

Accenture Smart Grid Services in Europe, Africa and Latin America former managing director Maikel van Verseveld has been named as the chief executive officer of Omnetric Group.

Siemens Smart Grid Center of Competence for Central and Eastern Europe head Martin Runge, Siemens Smart Grid Supply Chain Management former head Carsten Speckmann, have been named as chief operating officer and chief financial officer, respectively.