The utility company will use the EUR50 million (NOK 465 million) loan to deploy smart meters in Aust-Agdre and Vest-Agder cities.
[quote] The 15-year loan will help the firm improve its electricity billing to its 200,000 customers in the two cities.
The new metering system will also help the power company improve its grid network management and help customers track their energy consumption and lower bills, reported The Financial. [Norway’s Troms Kraft Nett boosts meter data management]
The loan falls under a national programme set by the Norwegian regulatory authorities for utilities to adopt the smart meters system. The deployment of the 200,000 smart meters is expected to last through to January, 2019.
“The smart meter technology makes households more aware of their electricity usage and that will likely lead to new consumer patterns and increased energy efficiency”, said Henrik Normann, NIB president and CEO.
Norway and Tesla collaboration
In other news, The Norwegian government has plans to establish eight new research centres for environmentally-friendly energy and technology (FME centers).
Norway and Tesla have established a mutually beneficial relationship. During a recent visit to the US, Norwegian energy minister Tord Lien visited Silicon Valley in San Francisco, where he visited the Nordic Innovation House and the headquarters of Google and Tesla. [Finland’s Aidon secures deal for AMI deployment in Norway]
Lien was reported saying, “The reason why we want a bilateral cooperation with Tesla, among others, is that we through FME scheme are investing heavily in the development of smart cities, storage and charging smart grid and zero-emission transportation. Tesla might like to contribute to these initiatives.”
The minister also hopes that its collaboration with Tesla, Norway will have the knowledge and tools at its disposal to renovate the current energy system, where presently different renewable resources are not coordinated while producing energy.