Crompton Greaves seals Rs 244cr smart meters deal with Spanish co

Crompton-GreavesReiterating its growing presence in the global smart grid sector, Crompton Greaves Ltd – an Avantha Group Company – has closed a Rs 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.

Europe’s installation base for smart meters is expected to rise sharply and hit 180 million by 2020 just as the Asian market is likely to gain significant traction during the period. While 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 the CG in the Spanish market has been the regulatory framework in the country, which makes it mandatory that 70 percent of the analogue meters be 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.

On 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.”

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