CG wins 24 mn euro order from Spanish utility Iberdrola

Avantha Group company Crompton Greaves (CG) today said it has bagged a 24 million euro (Rs 178 crore) order to supply ZIV single and three phase smart meters to Spanish utility Iberdrola.
"CG has won a 24 million euro (Rs 178 crore) contract to supply ZIV single and three phase smart meters to Spanish utility Iberdrola," the company said in a BSE filing.
According to the statement, this follows a 17 million euro order from Spain's Gas Natural Fenosa (GNF) for the supply of PLC communicated smart meters, won recently.
ZIV's single phase smart meter model is the reference smart meter in the prime PLC market segment, after the deployment of almost 4 million ZIV units worldwide, it said.

In line with addressing growing demand, CG has expanded its manufacturing plant in Zamudio, Spain, introducing new, automatic assembly lines that will be able to produce over 2 million smart meters annually.
Spanish utilities are expected to replace 70 per cent of analogue meters by 2016 and 100 per cent by 2018.
ZIV smart meters have a proven track record of robust performance, backed by a string of strategic wins from European utilities such as GNF in Spain, EDP in Portugal and ERDF in France, it added.