ZIV Metering Solutions, the Automation arm of CG, has bagged an order to supply Spanish electric vehicle charging operator IBIL with 90 Electric Vehicle (EV) charging stations. The IBIL order is expected to 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 opportunities.”
Source: BusinessWire India
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