Enel to supply smart power meters to Malta

MILAN, July 3 (Reuters) - Italy's biggest utility, Enel (ENEI.MI) said it will supply 250,000 smart electricity meters to Malta, part of the island's efforts to launch a smart grid system in 2012, reduce its carbon footprint and cut bills.

The project, for which IBM (IBM.N) will develop software, requires an investment of 70 million euros and will be partly financed by the European Union, Enel said on its Web site.

Enel has installed about 36 million smart meters -- which give more information for households and supplies about electricity -- in Italy and about 1 million abroad.

(Reporting by Svetlana Kovalyova)