The project of the supply of smart metres in the Netherlands is to conclude in 2020, by which time the agreed amount of units to be supplied is expected to be increased, Iskraemeco said in a press release on Wednesday.

"This extensive project is a continuation of smaller-scale projects implemented between 2008 and 2013, as part of which Iskraemeco supplied more than half a million smart metres to the Netherlands," the release adds.

First shipments to Dutch network operators Alliander, Stedin, Delta Netwerkbedrijf and Westland Infra, which control a combined 70% market share in the country, are planned for the beginning of 2016.

As part of the project, Iskraemeco will cooperate with Danish company Flonidan, one of the leading producers of smart gas metres, as energy supply in the Netherlands functions under the dual fuel system, which combines gas and electricity.

Iskraemeco will supply its latest smart electricity meter, AM550, which is based on a modular platform and which meets all the requirements from the buyers, including a 20-year lifespan, the company added.