Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Stock Market»SparkMeter Signs Two New Contracts in Somalia to Modernize African Utilities
    Stock Market

    SparkMeter Signs Two New Contracts in Somalia to Modernize African Utilities

    August 20, 20244 Mins Read


    • Today, residents in Somalia pay some of the world’s highest prices for electricity
    • SparkMeter is implementing Somalia’s first smart grid project with NECSOM, and has started commercial deployment with Caabudwaq Electric Company (CECO)
    • An additional pilot program with Blue Sky Energy grows SparkMeter’s reach to a total of 75,000 homes in Somalia to date

    WASHINGTON, Aug. 20, 2024 /PRNewswire/ — SparkMeter, a provider of grid management services and solutions that increase access to reliable electricity in underserved communities across Africa, Asia, and the Americas, announced new contracts with two utilities in Somalia to support the digitalization of the country’s electricity grids.

    Today, residents in Somalia pay some of the world’s highest prices for electricity. Serving hard-to-reach customers, utilities suffer from loss of revenue. In partnership with local utilities, SparkMeter is offering grid monitoring solutions to address these challenges. To improve the cost and reliability of electricity for Somali consumers, SparkMeter’s digitalization solutions help mitigate system losses, manage assets, and forecast consumption patterns.

    During the initial pilot program with SparkMeter, Caabudwaq Electric Company (CECO) – the largest utility in Galmudug State – reduced its systemwide electricity losses and improved collections through faster and more accurate meter readings. Today, SparkMeter is planning to deliver its solution across CECO’s entire 10,000 customer base. As a result, CECO now plans to raise investment for new clean energy projects.

    “In Somalia, the majority of utilities must manage operations manually, requiring utility teams to physically take meter readings and log usage data. The entire process is time-intensive and prone to errors and delays,” said Mr. Giama Guled, Chairman of CECO. “Now, with the introduction of SparkMeter’s technology, customer meter reads and billing processes are streamlined and customers have a wider range of payment options. This significantly reduces our system losses and allows us to provide better service to our customers.”

    In tandem, SparkMeter is initiating a pilot program with another Somali utility, Blue Sky Energy, to mitigate system losses.

    Following SparkMeter’s pilot program with National Energy Corporation of Somalia (NECSOM), SparkMeter commenced a system-wide rollout to all 20,000 of the utility’s customers. In a first-of-its-kind smart grid project in Somalia, SparkMeter’s solution allows NECSOM to detect and quantify losses, identify overloaded transformers, and offer flexible billing and payment options to its customers. As a result, the utility is improving its financial position and increasing the amount of renewable energy on its grid.

    “Before we started using SparkMeter’s technology, NECSOM needed two weeks to do meter readings and then generate and distribute invoices to our customers. Now with the help of SparkMeter, we will have access to accurate billing information in less than 10 hours once the technology is fully implemented, letting us spend our time on other essential processes,” said Mohamed Ahmed, CFO of NECSOM.

    Somalia is one of 30 countries where SparkMeter is active. “The first step to closing the energy access gap in emerging markets is to empower utilities with transformative smart grid management solutions to decarbonize electricity distribution,” said Dan Schnitzer, CEO of SparkMeter. “Our utility customers in Somalia are some of the most forward-thinking leaders we’ve worked with, and we’re proud to continue to partner with them to ensure equitable energy access with utilities across the country.”

    About SparkMeter
    Founded in 2013, SparkMeter provides grid-management solutions tailored to emerging markets, where 2.1 billion people live without reliable electricity access. Active in more than 30 countries across Africa, Asia and North America, its simple plug-and-play solution enables microgrids and distribution utilities operating in remote locations to access a range of features – flexible billing, customer communications, and remote monitoring and control – that improve their operations and help them achieve financial sustainability.

    Logo – https://mma.prnewswire.com/media/2484971/SparkMeter_Logo.jpg



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    3 Highly-Rated Dividend Stocks You’ve Probably Never Heard Of (But Should)

    Stock Market

    Le président d’Ecofin Global Utilities annoncé son départ lors de la prochaine assemblée générale

    Stock Market

    United Utilities Group PLC : RBC Capital Markets de acheteur à neutre sur le titre

    Stock Market

    une boutique Voi va ouvrir au Havre

    Stock Market

    10 Best Dividend Stocks for a Bear Market

    Stock Market

    RBC dégrade United Utilities à “performance sectorielle” en raison d’un potentiel limité

    Stock Market
    Leave A Reply Cancel Reply

    Top Picks
    Cryptocurrency

    Top Countries Leading the Digital Finance Revolution?

    Stock Market

    Aspirateur Dreame : les French Days font fondre les prix de ces références efficaces pour entretenir vos sols

    Cryptocurrency

    Bitcoin Dips To $67,000 As Top Coins See Bloodbath

    Editors Picks

    NOVEN GROUP INFRA et VERSO ENERGY signent un accord de partenariat en faveur du développement des carburants de synthèse

    February 21, 2025

    Challenger Gold demande la suspension de la cotation

    June 1, 2025

    Trump stops short of establishing a bitcoin strategic reserve

    July 28, 2024

    Brazil leads the world in exports of seven food commodities — MercoPress

    May 15, 2025
    What's Hot

    Australian Agricultural (ASX:AAC) shareholders have earned a 6.6% CAGR over the last five years

    May 19, 2025

    The rapid growth of the UK crypto casino market

    August 29, 2024

    Exceptional Drilling Results Returned from Hyperion Gold Deposit

    October 22, 2024
    Our Picks

    For best property investment returns, head north

    February 14, 2025

    Dhunseri Investments Limited annonce la démission de Mrigank Dhanuka en tant qu’administrateur non exécutif et non indépendant. -Le 13 février 2025 à 10:39

    February 13, 2025

    Voici le site de Trump pour le visa permanent à 5 millions de dollars

    June 12, 2025
    Weekly Top

    Gold Cup | Jesse Marsch minimise la dernière procédure disciplinaire de la CONCACAF

    June 20, 2025

    Le président d’Ecofin Global Utilities annoncé son départ lors de la prochaine assemblée générale

    June 20, 2025

    Regal Investments Commits $30 Million to Cryptocurrency Prop Trading Initiative

    June 20, 2025
    Editor's Pick

    We Asked ChatGPT if Ripple (XRP) Can Become a Top 3 Cryptocurrency This Year

    July 20, 2024

    Auriac-sur-Vendinelle. Deux univers pour une exposition à quatre mains

    May 26, 2025

    Europe et Dream Theater ont enflammé le Zénith du Grand Nancy

    June 7, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.