HELSINKI, Feb. 28, 2020 /PRNewswire/ -- Eltel's Power business Smart Grids has signed a contract with Vattenfall Eldistribution AB, one of the largest Distribution System Operators in Sweden, to replace 236,000 electricity meters in Sweden. The contract is worth about EUR 22 million.
Eltel will be responsible for the rollout and implementation of 236,000 smart meters and technology for 15,400 secondary substations metering in the middle and western part of Sweden. The scope includes planning, installation and logistics of new and old meters, and related infrastructure.
The project is the first of Vattenfall's four phases to replace and install a total of about 900,000 electricity meters in Sweden in order to meet new requirements from both the EU and the Swedish government by 1 January 2025.
The project starts in the end of the first quarter 2020 and is expected to be completed in the fourth quarter 2022. The contract includes an option of the remaining three phases, with an additional value of about EUR 49 million.
Eltel is a leading Northern European provider of technical services for critical infrastructure networks - Infranets - in the segments of Power, Communication and Other, with operations throughout the Nordics, Poland and Germany. Eltel provides a broad, integrated range of services from maintenance and upgrade services to project deliveries. Eltel has a diverse contract portfolio and a growing customer base of large network owners. In 2019, Eltel had annual sales of EUR 1.1 billion. The total number of employees currently stands at around 6,700. Eltel AB has been listed on Nasdaq Stockholm since 2015.
Director, Solution Unit Smart Grids
Elin Otter, Director
Communications and Investor Relations
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Eltel installs 236,000 smart meters in Sweden for EUR 22 million