1st Jul 2014 10:45
LONDON (Alliance News) - Cyan Holdings PLC Tuesday said that a consortium led by Larsen & Toubro has been chosen by Tata Power Mumbai to deploy Cyan's control and communication network for electricity metering, CyLec.
The contract win comes two weeks after Cyan said that a consortium led by Aquameas Instrument Pvt. Ltd had been selected by Essel Utilities to deploy CyLec in India for the first time.
According to Cyan, Tata selected the consortium after a 12-month evaluation of its technology.
Tata Power Mumbai is a member of the Tata Group and part of India's largest integrated power company. Larsen & Toubro is a technology, engineering, construction, manufacturing and financial services conglomerate
The initial contract with Tata is for the deployment of 5,000 consumer meters in a district in Mumbai and is currently planned to go live in early 2015.
The consortium is made up of leader partner Larsen & Toubro, Cyan and green energy information technology specialist Neosilica.
Under the partnership, Larsen & Toubro will supply smart meters with CyLec wireless technology inside, and Neosilica will provide a meter data acquisition system interface from Cyan's head end server into Tata's meter data management system for billing and fault management.
"Since signing a partnership agreement with L&T in February 2012, we have worked closely with them to ensure we can provide a fully functional end-to-end solution for the Indian market," Executive Chairman John Cronin said in a statement.
"As Tata are viewed as leaders in the generation and transmission of electricity, their selection of the consortium's AMI technology will act as an important reference for other utilities evaluating smart metering technologies across India," Cronin added.
Cronis said that the consortium's selections shows its strength and credibility, and boosts Cyan's credibility in emerging markets.
Cyan shares were Tuesday quoted at 0.354 pence, up 20.0%.
By Samuel Agini; [email protected]; @samuelagini
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