Eltel Wins Another Major Smart Metering Contract in Norway

Regulatory News:

Norwegian power utility Skagerak Nett AS has chosen Eltel l (STO:ELTEL) its rollout partner in their smart metering project. The rollout consists of 180.000 AMM meters to be installed by 2019.

Skagerak Nett has decided to contract the rollout of 180.000 smart meters with Eltel. The contracted services include rollout of meters and communication equipment, installations for substations, warehousing and logistics, and customer contacts. For Eltel the contract is another smart metering project in Norway announced during a short period of time. Eltel is the market leader of smart metering rollouts in Northern Europe with contracted installations of over 4 million meters.

Geir Kulås, Networks director of Skagerak Nett says:

"Eltel has shown in similar projects elsewhere that they have competences and capacity to install a large amount of meters every day. By Norwegian regulator we are obliged to complete the system by 1.1.2019”.

About Skagerak

Skagerak Energi’s operations are focused on production and distribution of electricity and other energy, as well as other activities related to these. The group has an annual average energy production of 5500 GWh, over 185 000 network customers and turnover of NOK 2.5 billion in 2014. Skagerak does not sell electricity to end-users but owns 48 % of Norway's second largest power sales company, Fjordkraft. The group has about 780 employees.

About Eltel

Eltel is a leading European provider of technical services for critical infrastructure networks – Infranets – in the segments of Power, Communication and Transport & Security, with operations throughout the Nordic and Baltic regions, Poland, Germany, the United Kingdom and Africa. Eltel provides a broad and integrated range of services, spanning from maintenance and upgrade services to project deliveries. Eltel has a diverse contract portfolio and a loyal and growing customer base of large network owners. The number of employees is approximately 8,600 and in 2014, Eltel net sales amounted to EUR 1,242 million. Eltel’s share is listed on Nasdaq Stockholm since February 2015.

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