BWI: CG to Supply Over 1 Million Smart Meters to Iberdrola

Source : Crompton Greaves Ltd Thursday, June 5, 2014 8:08PM IST (2:38PM GMT)   (BSE:500093)(NSE:CROMPGREAV) CG to Supply Over 1 Million Smart Meters to Iberdrola   Mumbai, Maharashtra, India Iberdrola’s single phase and three phase smart meters demand will be met within a year All Spanish utilities slated to replace 70% of their analog meters by the end of 2016 ZIV PRIME meters and Data Concentrator Units are market leaders ​ Avantha Group Company CG closed an INR 244 crore contract with Spanish multinational electric utility company Iberdrola to supply over 1 million ZIV single smart meters in a year. The order comprises single-phase and three phase meters and reiterates CG’s growing dominance in the global smart grid sector. Europe’s installation base for smart meters is expected to rise sharply and hit 180 million by 2020 just as the Asian market will gain significant traction during the period. Whilst Spain continues its dominance as an active market in 2014, large-scale deployments in the UK, Germany and France will bring in the momentum by late 2015. A significant advantage for CG in the Spanish market has been the regulatory framework in the country which makes it mandatory that 70 percent of the analog meters are replaced by 2016 and 100 percent by 2018. ZIV as the world’s main PRIME meter supplier is uniquely positioned to benefit from this regulation, by collaborating closely with the distribution utilities and assisting them in achieving the challenge on time.  ZIV, was awarded significant contracts this year, from major European Utilities: Energias de Portugal and Gas Natural Fenosa with a total of more than 2 million meters. In addition ZIV received 10 Advanced Metering Infrastructure (AMI) pilot projects in 3 continents.  About the latest win, Avantha Group Company CG’s CEO and Managing Director, Laurent Demortier said: “This win reinstates  CG’s long term commitment to providing smart grid solutions to the European Distribution grid to monitor and manage their own networks. We thank Iberdrola for their trust and continued patronage of our efficient and state-of-the-art smart meter technology.  We remain focussed on supporting our customers  to build a modern, efficient grid and improve their overall end-user experience by providing a full suite of smart grid products and services.” About CG Avantha Group Company CG is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers. The company is organized into four business groups: Power, Industrial, Automation, and Consumer. CG clocks US$ 2.3 billion in revenues from product lines that cover the entire value chain of engineering offerings. About ZIV CG, after acquiring ZIV, is the key provider of smart meters in Spain and an important player in the global smart grid market where it offers ZIV meters, data concentrator units (DCU) and distribution automation solutions (DAS). CG’s smart grid offerings include self-healing and adaptive restoration systems that detect and isolate faults and restore power to the maximum number of customers. Systems are self-adaptive to handle multiple cascaded fault scenarios.  Headquartered in Bilbao, Spain, CG hosts the center of excellence for the development of smart grid solutions commercialized under the ZIV® brand. For more information on CG, please visit: www.cgglobal.com. About Avantha The Rs. 25,000 crores (US$4bn) Avantha Group is one of India's leading business conglomerates. Its successful entities in diversified sectors include Crompton Greaves (power transmission and distribution equipment and services), BILT (paper and pulp), The Global Green Company Limited (food processing), Biltech Building Elements Limited (infrastructure), Avantha Power (energy), Salient Business Solutions Limited (IT and ITES), Jg Glass (glass containers). With a global footprint, the Group operates in 90 countries with more than 25,000 employees worldwide. Led by Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors. For more information on Avantha, please visit www.avanthagroup.com. Photo Caption: Mr. Laurent Demortier, CEO and Managing Director, CG   Media Contact Details Paula Sengupta, Global Head - Communications CG (Crompton Greaves Limited), ,+91 (22) 24237516 / 67558771 , paula.sengupta@cgglobal.com Shravani Dang, Vice President, Group Head – Corporate Communications Avantha Group, ,+91 (11) 41699282 / +91 (11) 23368332 , s.dang@avanthagroup.com Itziar Lasaosa, Automation Communications Manager CG, ,+34 625709727 , itziar.lasaosa@cgglobal.com   KEYWORDS: Business/ Finance:Advertising, PR & marketing, Business Services, Electronic Appliances & Components, Energy Companies, Information Technology, Major diversified industrial groups, Manufacturing Companies, Technology   If you wish to change your Business Wire India selection please visit on Business Wire India and use your personal username and password to login.   Submit your press release at http://www.businesswireindia.com

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