|[December 17, 2012]
Itron Awarded Largest Smart Meter Contract in South Africa with City of Johannesburg
LIBERTY LAKE, Wash. --(Business Wire)--
Itron, Inc. (NASDAQ:ITRI) announced today that, in collaboration with
the Edison Power Group, it received a major contract award from the City
of Johannesburg, the continent leader and economic hub of Africa with a
AA-credit rating from Moody's and Finch.
The engagement, which has a total contract value of approximately $150
million, will require Itron to supply its latest generation smart meters
and associated smart metering system, tying into the City of
Johannesburg's stated growth and development strategy to improve service
delivery and efficiency through network automation.
After an intense global search, Itron was identified by Edison Power
Group as the right partner to deliver the best solution for City Power.
"Itron is proud to support a leading utility like City Power in making
the smart grid a reality. We believe our technology provides the
foundation for engaging customers and complements the city's demand side
management program," said Philip Mezey, president and chief operating
officer of Energy for Itron.
Key to the solution will be the empowerment of City Power's customers,
allowing them to better manage their electricity usage and take steps to
save energy, as well as money on their utility bills. A further element
is the more pervasive application of the city's demand sie management
initiative. Central to the entire project is a significant investment in
black economic empowerment, skills development and expanded localized
support capacity. "We have established a clear strategy and plan to
develop skills and ensure local sustainability. We are all in this for
the long haul," commented Sindi Mzamo, chief executive officer of Edison
The award was based on a thorough evaluation of the submitted bid and
Itron's proven field results in various similar solutions throughout the
world. "It is our assessment that the consortium offer of Edison Power
and Itron provides the right combination of local empowerment,
world-class technology and proven delivery performance to support the
utility's future priorities," said Sicelo Xulu, chief executive officer
of City Power.
Itron is a global technology company. We build solutions that help
utilities measure, monitor and manage energy and water. Our broad
product portfolio includes electricity, gas, water and thermal energy
measurement and control technology; communications systems; software;
and professional services. With thousands of employees supporting nearly
8,000 utilities in more than 100 countries, Itron empowers utilities to
responsibly and efficiently manage energy and water resources. Join us
in creating a more resourceful world; start here: www.itron.com.
About Edison Power Group
The Edison Power Group is the largest electrical contracting company in
South Africa. The group provides trusted and reliable service and has
become the leader in the electrical contracting industry - having
successfully completed some of the largest projects in the country. The
Edison Power Group specialises in commercial electrification,
reticulation, industrial projects, High Voltage and Low Voltage
reticulation, live-line services, power transmission and distribution
and railway electrification.
About City Power Johannesburg SCO Ltd
City Power is a municipal-owned enterprise which was created in 2000 as
the best way to meet the city's current and projected electricity needs.
It is Johannesburg's intention to become a world class African city, and
accordingly, it is the vision of City Power Johannesburg (Pty) Ltd to
perform as a world class electricity distributor.
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