According to reports, the Automation arm of CG, earlier known as Crompton Greaves, 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 in transportation and its strength in the Smart Grid space.
CG Executive Vice-President & President of Automation Norberto Santiago said, “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.”
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.
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, said the company.
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.