Greece’s HEDNO to deploy 3.1 million smart meters

Greek DSO HEDNO (Hellenic Electricity Distribution Network Operator) is receiving European Investment Bank support for its 3.12 million first phase smart meter rollout.

The agreement covers a €150 million (US$160 million) 15-year loan, with the smart meters aimed to help modernise and reinforce the Greek electricity distribution network.

HEDNO will instal 3.12 million smart meters and all the necessary supporting infrastructure for their operation in the first phase of a nationwide project which also is expected to be part-funded by a €273 million (US$291 million) Recovery and Resilience Facility (RRF) loan to cover the estimated total €546 million (US$583 million) cost.

“We welcome the investment in one of HEDNO’s flagship projects that will rapidly transform and modernise the Greek energy market, by upgrading the electricity distribution network thus paving the way for a successful energy transition,” said Anastasios Manos, CEO of HEDNO.

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“Smart meters and smart grids are essential in achieving all of our energy goals. In the face of climate change, we need a more reliable grid, a smarter grid, now more than ever.”

Stated aims of the project are to reduce non-technical losses, enable remote operations related to end customers, improve demand forecasting, improve awareness on electricity consumption and support energy efficiency policies.

In addition the smart metering should enable the implementation of new services, such as demand side management, increase observability of the low voltage distribution network, improve service quality, facilitate the energy market as well as contribute to reduce various operating costs.

A tender process is currently under way for the award of the smart meter project.

The first phase will run to 2026. The full nationwide rollout of approximately 7.5 million smart meters is expected to be completed in 2030 with a deployment rate of approximately 1 million meters per year.