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CG has secured a EUR 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.

"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," says Laurent Demortier, CG CEO and managing director. "We thank Iberdrola for their trust and continued patronage of our efficient and state-of-the-art smart meter technology."

CG notes that Spain’s regulatory framework mandates that 70% of the country’s analog meters be replaced by 2016 and 100% by 2018. Furthermore, the company says 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 this year, CG believes large-scale deployments in the U.K., Germany and France will bring in the momentum by late 2015.



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