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[July 29, 2013]
Silver Spring Networks selected by SmartCo to aid in smart grid deployment in New Zealand
Jul 29, 2013 (M2 EQUITYBITES via COMTEX) -- Silver Spring Networks Inc (NYSE:SSNI), a networking platform and solutions provider for smart energy networks, announced on Sunday its selection by SmartCo to deploy an advanced smart grid network across New Zealand.
Financial details of this selection were not available.
SmartCo is a consortium of New Zealand electricity lines companies including Alpine Energy, Counties Power, Electricity Invercargill, Network Tasman, The Power Company and WEL Networks.
Under this agreement, SmartCo, which is pursuing a new business model in New Zealand's disaggregated market where retailers are responsible for deploying smart meters, and its lines company members will use Silver Spring's platform to generate incremental revenues by providing smart metering services to energy retailers.
These lines companies will also leverage the same platform to improve services for consumers including faster outage detection and restoration and improved power quality.
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