Crompton Greaves to supply smart grid-enabled transformers to New Zealand power firm
04 February 2013
Crompton Greaves has signed a long-term supply pact with Transpower NZ Ltd, owners and operators of the New Zealand national grid.
With this agreement, Crompton Greaves becomes the first of Transpower's three preferred vendors to supply transformers to the New Zealnd power operator.
"This tie-up in New Zealand will boost the company's position in the region, especially in the promising smart grid technologies," the company said in a statement.
Crompton Greaves said the supply relationship has the potential to scale up to orders worth $15 million annually. The transformers are being manufactured by the company's Jakarta, Indonesia facility.
Laurent Demortier, CEO and managing director, Crompton Greaves said, "Our expansion to 500kV transformers for large customers in SEA built a high degree of confidence with Transpower, and led to the inking of this agreement. This deal serves to strengthen CG's position and will help us win new orders in this emerging and fast-growing geography."
The agreement will remain in force for five years with the possibility of two extensions of two years each.