(Yicai Global) Dec. 24 -- A unit under China State Grid has won a USD1.1 billion contract in Saudi Arabia to install 5 million smart meters as it looks to use its intelligent data technology overseas.
China Electric Power Technology and Equipment and Saudi Electric Power penned the deal, Xinhua News Agency reported yesterday. The contract includes building 5 million smart meters, head-end systems and supporting terminals in southwest Saudi Arabia that will become operational in 2021.
Smart meters enable bi-directional collection of power usage data and facilitate the reform of electricity pricing systems.
China State Grid operates the world's largest smart power grid and the latest move is its first major use of its electricity data collection system overseas as Saudi Arabia looks to make its cities smarter.
Editor: James Boynton