CG to Supply over 1 Million Smart Meters to Iberdrola

  CG to Supplyover 1 MillionSmart Meters to Iberdrola

  *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 analogue meters by
    the end of 2016
  *ZIV PRIME meters and Data Concentrator Units are market leaders

Business Wire

PARIS & BILBAO, Spain -- June 5, 2014

Avantha Group Company CG closed an Euro 30 Million 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
andthree-phase meters and reiterates CG’s growing dominance in the global
smart grid sector.

Mr. Laurent Demortier, CEO and Managing Director, CG. (Photo: Business Wire)

Mr. Laurent Demortier, CEO and Managing Director, CG. (Photo: Business Wire)

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.”

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Contact:

CG (Crompton Greaves Limited)
Ms. Paula Sengupta
Global Head - Communications
T: +91 22 24237516 / 67558771
paula.sengupta@cgglobal.com
 
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