Source : Crompton Greaves Ltd 
Monday, January 21, 2013 1:11PM IST (7:41AM GMT)
 
(BSE:500093)(NSE:CROMPGREAV)
CG's Electric Vehicle Charging Stations to Fuel Smart Grid Growth
Mumbai, Maharashtra, India

-- Wins Order to Supply Spanish Company IBIL with EV Charging Stations

-- EVs Driving Deployment of Smart Grid Technologies

-- Smart Grid is a High Growth Market, to be Worth $57 billion by 2016

The Automation arm of CG, ZIV Metering Solutions, has bagged an order to supply IBIL, the Spanish electric vehicle charging operator, with 90 Electric Vehicle (EV) charging stations. The IBIL order helps showcase CG's capabilities at the cutting edge of the energy revolution in transportation and its strength in the exciting Smart Grid space.

The depletion of fossil fuels, rising oil prices and increasing environmental awareness are leading governments, utilities and consumers to explore energy-efficient transportation technologies. The Smart Grid and EVs are critical in this respect. According to a report, by 2025, 35% of all cars sold will be electric, 25% of which will be hybrids and 10% pure EVs. These vehicles require an accessible and reliable charging station network which only a Smart Grid can provide. A Smart Grid balances the flow of power through the electrical network. Its intelligent systems communicate with each other to manage and compensate surges and dips in demand for power, thus enhancing system efficiency. The increasing popularity of EVs – especially in the US and the European Union – is driving increased and more rapid deployment of Smart Grid technologies.

CG's EV charging stations are Smart Grid-enabled, communicating information in real time to and from meters and generators. Moreover, CG offers comprehensive Smart Grid solutions through its end-to-end product offerings ranging from meters and protection devices to routers, current sensors and EV charging stations. The global Smart Grid market has seen double-digit growth rates over the past five years and is expected to continue along this trajectory, reaching approximately $57 billion by 2016. CG is well-positioned to penetrate this sizeable market on the strength of its global footprint, R&D prowess, and manufacturing capability. This will help the company provide its consumers with innovative, reliable and intelligent offerings, even as it helps the environment.


CG Executive Vice-President & President of Automation Norberto Santiago said, "CG has bagged this order from IBIL in the face of intense competition from large and established Original Equipment Manufacturers (OEMs) for the automotive industry and the Spanish industrial administration. EVs will play an important role in the electricity network of the future and help meet important challenges such as Europe's 20-20-20 objective, wherein the continent aims to reduce CO2 by 20%, source 20% of energy from renewable sources, and lower energy use by 20%. CG is an important player in this promising market."

CG CEO and Managing Director Laurent Demortier said, "I thank IBIL for reposing its trust in the expertise and differentiation CG brings to the table. The repeat order is a reflection of our strong capabilities in the important and growing Smart Grid segment. CG is well-positioned – in technology, R&D, manufacturing, and access to market – to seize its wide-ranging opportunitities."

IBIL – a JV between REPSOL, the leading Spanish oil company, and EVE, the Basque Energy Agency – had earlier selected CG's Automation arm for the design and supply of 150 charging stations based on their past successful engagement history. ZIV, which was acquired by CG in July 2012, created its portfolio of EV charging products in 2010.

CG

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, Automation, Industrial, and Consumer. CG clocks US$2.3 billion in revenues from product lines that cover the entire value chain of engineering offerings.

For more information on CG, please visit: www.cgglobal.com.


About Avantha

The US$ 4 bn Avantha Group is one of India's leading business conglomerates. Its successful entities include BILT, Crompton Greaves, The Global Green Company, Avantha Power & Infrastructure, Solaris ChemTech Industries, Biltech Building Elements, Salient Business Solutions and Avantha Technologies. With an impressive global footprint, Avantha operates in more than twenty countries, employing over 22,000 people worldwide. The Group has business interests in diverse areas including power transmission and distribution equipment and services, paper and pulp, energy and infrastructure, food processing, farm forestry, insurance,chemicals, IT and ITES. 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.


To view the photographs, please click on the links given below:

EV Charging Station(A)

EV Charging Station(B)

 
For News Release background on Crompton Greaves Ltd click here
 
Media Contact Details
Mrs. Shravani Dang, Group Head – Corporate Communications, Vice President – Avantha Group, +91 (124) 4099436, s.dang@avanthagroup.com
Ms. Paula Sengupta, Global Head – Corp. Communications, CG (Crompton Greaves Limited), +91 (22) 24237842 / 67558771, paula.sengupta@cgglobal.com
 
KEYWORDS: Business/ Finance:Advertising, PR & marketing, Automotives, Business Services, Electronic Appliances & Components, Energy Companies, Information Technology, Technology;General:Consumer interest, Economy, People
 
Submit your press release
More News from Crompton Greaves Ltd

21/10/2014 4:11PM Image

CG Announces the Appointment of Sanjay Singh as Global Head of HR

Avantha Group Company CG today announced the appointment of Sanjay Singh as Executive Vice President and Global Head – Human Resources. Singh will be a member of the Executive Committee and will report to CEO ...

16/10/2014 10:18PM

CG H1FY15 Consolidated Net Profit Up 13% at Rs. 134 Crore Revenue Up 7% to Rs. 6,872 Crore

Highlights for H1FY15 Vs H1FY14        Consolidated net profit rose 13% to Rs. 134 crore Consolidated revenue up 7 % at Rs. 6,872 crore Order intake stood at Rs. 5,405 crore up ...

24/09/2014 4:04PM Image

CG Awarded $25 Million Contract by Ministry of Electricity, Iraq

16 mobile substations for Iraq, before September 2015 For interim grid connections and temporary power supplies Integration and assembly in Belgium   Avantha Group Company CG announced a $25 million new ...

Similar News

25/10/2014 3:14PM

Jean-Sébastien Jacques, Chief Executive of Rio Tinto Copper, appointed Chairman of the ICA

The International Copper Association (ICA) announced the appointment of Jean-Sébastien Jacques, Chief Executive of Rio Tinto Copper, as its new Chairman. Mr. Jacques had been Vice-Chairman of the ICA since ...

No Image

25/10/2014 3:12PM

Toshiba Launches Automotive Infotainment Companion Chip Supporting High-Resolution Multimedia Connectivity and Camera Devices

Toshiba Corporation (TOKYO:6502) has announced the launch of a key new addition to its extensive portfolio of solutions for the automotive market. The TC358791XBG automotive companion chip was created to drive ...