Heredia, Costa Rica and New York, NY, U.S.A. --- (METERING.COM) --- July 29, 2013 - Costa Rica utility Empresa de Servicios Públicos de Heredia (ESPH) is to undertake a 30-day residential home trial of smart electric meters that, if successful, could result in the installation of approximately 80,000 smart meters in residential homes located in Heredia's jurisdiction.
The trial forms part of a letter of intent between ESPH and ForceField Energy Inc., which also includes the installation of 19,000 LED streetlights.
ForceField, through its partner PowerOneData International, will provide ESPH with smart meters and management systems to support the initial 30-day residential home trial.
The total proposal for the sale of 80,000 smart meters when combined with the installation of 19,000 LED streetlights could generate $40 million in revenue for ForceField. Both the purchase of the smart meters by ESPH and the project to install 19,000 LED streetlights for ESPH are subject to all parties securing the required financing and the execution of a definitive agreement, both of which are expected to be completed by September 30, 2013.
“ESPH will gain several key advantages from installing smart meters including the ability to read meters remotely in real time to more effectively manage demand and reduce operating costs,” said Richard St-Julien, ForceField Energy's Chairman. “We look forward to continuing our partnership to improve the energy costs, efficiency and reliability in Heredia.”