A €50 mln contract for Advanced Metering Infrastructure (ΑΜΙ) was signed on Wednesday between the Electricity Authority of Cyprus (EAC) and the Cyprus Telecommunications Authority (CYTA). Minister of Energy, Commerce and Industry, George Papanastasiou, who addressed the signing ceremony, noted that this is a milestone for the progress of the project and the government's energy saving goals.

The Minister noted that the project will be funded with €35 mln through the Cyprus Recovery and Resilience Plan, which was made possible despite a delay in the signing of the contract. The rest of the budget will be covered by the EAC, according to the Chairman of the Board of Directors of the Authority, Giorgos Petrou. The latter also noted that the funds from the Recovery and Resilience Plan will be deposited as long as certain goals of the project are fulfilled on time.

The first goal is to have 50,000 smart devices delivered by the Swiss company Landis+Gyr by the beginning of 2025. The second goal is to have the rest of the 400,000 smart devices delivered by June 2026, at which point 250,000 of the devices should be already installed by the EAC. The devices will cover at least 80% of EAC's costumers, Petrou said. He also noted that another 200,000 devices will be installed in the second phase of the project, in addition to the first 400,000, in order to cover all of EAC's costumers.

For the completion of the first phase of the project, 50 EAC crews will be working on a daily basis for approximately three years, to replace the current system with the Advanced Metering Infrastructure devices, General Director of the EAC, Adonis Giasemides said.

The seven-year contract that EAC and CYTA signed today includes the design and supply of smart meters, the supply of related equipment and software, the interface with the existing EAC software system and the provision of support and maintenance services.

EAC staff will receive training by he Swiss company Landis+Gyr, to be able to manage the new system.

"We trust the manufacturer, who is well known in the market for this device," Minister Papanastasiou said during his address in the signing ceremony and added that "through this cooperation between EAC, CYTA and such a manufacturer of smart devices, we believe that it is only a matter of time before the system becomes smarter."

EAC Board of Directors Chairman, Giorgos Petrou, said that the installation of the Advanced Metering Infrastructure, an integrated system of intelligent infrastructure, is implemented in the context of the evolution of the authority and "is a project that expands the country's energy horizon by creating new conditions for progress and prosperity for all."

Chairman of the CYTA Board of Directors, Maria Tsiakka, conveyed CYTA's commitment to innovation and excellence, noting that this is "constantly put into practice through technological solutions, which upgrade communication and contribute to a better quality of life for all of us."