[quote] The 15 year loan agreement is worth NOK 440 million (EUR 47 million) and includes the installation of smart meters and steering systems.
According to The Financial, the project forms part of Norway’s nation-wide programme to deploy smart meters and install advanced metering systems to provide a more efficient electricity network.
The Norwegian electricity producer plans to replace the meters of approximately 150,000 customers as well as install 2,500 central master meters. The smart meters are expected to enhance network monitoring and introduce a unified and more accurate invoicing system.
Henrik Normann, Nordic Investment Bank President & CEO, said: “The development of a smart grid will raise the proportion of renewable energy in the network and give Norwegian customers greater control over their energy use, allowing them to minimise costs. This makes this project eligible for loan from NIB.”
The project will take an estimated four years to complete (2015-2019), and will amount to a total cost of NOK 885 million (EUR 92 million).
Eidsiva Energi AS is claimed to be the largest producer and distributor of electricity in the regions of Oppland and Hedmark in Norway. The utility is based in Hamar and serves a customer base of 155,000.
Meter data management
Earlier this year, Norwegian business consulting firm Rejiers Embriq agreed to supply meter data management software (MDMS) to energy company Troms Kraft Nett.
Under the terms of the deal, Rejiers Embriq will integrate the Quant SmartGrid platform into Troms Kraft Nett’s grid to manage data from over 70,000 smart meters.
Central grid company Quant will validate data from the 70,000 smart meters that Troms Kraft Nett expects to install by 1 January, 2019.
Commenting on the deal, Erling Dalberg, CEO of Troms Kraft Nett, said: “We are looking at major investments in the power grid, where digitization and management of huge amounts of data are crucial.”
Espen Kasin, head of software at Rajiers Embriq, added: “We have also been keen to choose a solution that gives us a future-oriented complete operational support tool, to which we can add functionality as required. A procurement implemented as a service delivery is thus the perfect approach.”