Guinness Sustainable Energy Fund on Itron
Thesis
The fund owns Itron for exposure to smarter and more efficient electricity networks. Itron has a heritage in smart meters and is increasingly providing services and consulting around its installed base to help utilities use the grid more efficiently. As electrification raises load and grid complexity, the managers see better monitoring and utilization of existing infrastructure as an important part of the transition.
“increasingly providing services and consulting to utilities around this installed base”
Key risks
- Utility investment programs can be delayed
- Grid modernization may proceed more slowly than expected