Denmark to pour EUR 2.7bn in smart grid programme - report

Nov 11, 2014 - Denmark will invest about DKK 20 billion (USD 3.3bn/EUR 2.7bn) over the next six years into its smart grid project with the aim to support the further adoption of green solutions, daily Berlingske said Tuesday.

The Smart Grid project, which is running between 2012 and 2020, aims to motivate the regular consumer to use electrical cars and clean energy for heating. It will also make it easier for homeowners to become independent energy producers and install solar systems and wind turbines.

The future of the project depends on developing a new IT system, interactive methods to collect electrical consumption data and to forecast demand. IBM (NYSE:IBM), Siemens (FRA:SIE), ABB (STO:ABB) and many Danish companies involved in the alternative energy industry stand to gain and create new jobs, Berlingske said.

Smart grids are gaining popularity as a means to enhance the reliability, efficiency and economics of electricity production and distribution. They are a good fit for regions with high levels of renewable energy generation, which is the case with Denmark. By 2020 the country aims to source from renewables 30% of its total energy.

(DKK 10 = USD 1.668/EUR 1.344)

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