CG to Supply over 1 Million Smart Meters to Iberdrola
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 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.'