Avantha Group Company, Crompton Greaves (CG) automation business unit has fulfilled delivery of the final lot of 8,000 meters from an order to supply 30,000 advanced meters to monitor and boost the performance of the electricity grid of Administracion Nacional de Electricidad (ANDE) in Paraguay.
CG had earlier inked its maiden deal with ANDE for supply of single-phase and three-phase power transformers worth USD 13.15 million. The order was aimed to strengthen the Paraguayan 220 kV electricity network and grid to address the country's escalating power demand.
The current order is another strategic step in the expansion plans of CG’s Automation business unit, which already has interests in Latin American countries of Argentina, Chile, Mexico and Brazil. According to data from the International Energy Agency, by 2025, electricity demand in Mexico/Chile is expected to grow 56.6% and 28.3% for the rest of Latin America. This opens up a window of opportunities in the land-locked countries which CG aims to tap.
Laurent Demortier, Avantha Group Company CG's CEO & managing director, said, "This award demonstrates CG's expertise and flexibility to adapt Advance Metering Infrastructure (AMI) solutions to each client's specific needs. There is still scope for improvement globally in low-voltage grid automation, and we are certain that we can achieve this using the several technologies we have already implemented in AMI systems worldwide."
Shares of the company gained Rs 0.5, or 0.32%, to trade at Rs 154.75. The total volume of shares traded was 371,024 at the BSE (3.20 p.m., Wednesday).