CG to supply over 1 million smart meters to Iberdrola

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Avantha Group Co. CG closed a $40 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. While 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.

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