Light, Cemig invest USD 36.7m in electronic meters development.

(ADPnews) - Nov 29, 2010 - Brazilian energy distributor Light (SAO:LIGT3) and power utility Companhia Energetica de Minas Gerais (SAO:CMIG4), or Cemig, are investing some BRL 65 million (USD 37.6m/EUR 28.7m) in the development of electronic meters.

Of this sum, BRL 35 million are being invested by Light.

According to the company's president, Jerson Kelman, the funds are part of the two companies' budget for research and development (R&D) programmes.

Currently there is only one company certified by Brazil's National Institute of Metrology, Standardisation and Industrial Quality (INMETRO) to …