|By Business Wire||
|December 17, 2012 08:45 AM EST||
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 side 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 Power Group.
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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