Japan's NEDO signs MoU for smart grid demonstration project in Hawaii
Nov 24, 2011 - The Japanese New Energy and Industrial Technology Development Organisation (NEDO) said it had signed a memorandum of understanding (MoU) with the US state of Hawaii for a smart grid demonstration project on the island of Maui.
The USD-37-million (EUR 27.7m) project will last four years to the fiscal year through March 2015. It involves the development of a smart grid system that can carry a larger proportion of renewable electricity than conventional power grids and can allow more efficient use of renewable electricity. Maui was chosen for the project due to its increased use of distributed renewable electricity, leading to unstable frequency variation and volatility.
Japanese electronics maker Hitachi Ltd (TYO:6501), Mizuho Corporate Bank, part of Mizuho Financial Group (TYO:8411), and Cyber Defence Institute Inc have been contracted for the project, government-controlled NEDO said.