Avantha Group Company Crompton Greaves Ltd (CG) said it has bagged a three-year contract from the French distribution network operator Electricite Reseau Distribution France (ERDF) to provide maintenance and repair services to 4,500 high power transformers.
In a filing to the Bombay Stock Exchange, the company informed, "These transformers of ERDF are credited with supplying energy to 35 million households in France."
The French distribution network operator ERDF manages 95 per cent of the electricity distribution network in France.
As per the contract, CG will provide preventive and corrective maintenance of the ERDF on-load tap changers (OLTC) through speedy turnaround services, the company said in a statement.
In larger power transformers, for proper voltage regulation, on-load tap changers are required. Tap changers continuously adjust the transformer load to the power demand and ensure uninterrupted and secure electric supply, making them a crucial piece of equipment. An OLTC allows changes in voltage ratio without de-energising the transformer, it added.
Commenting on the development, Crompton Greaves Ltd, CEO and Managing Director, Laurent Demortier said, "This contract helps us to further strengthen our relationship with ERDF and our market presence in France. This engagement will be a valuable addition to the existing long-term agreement on repair and maintenance of high power transformers."
"With our technologically driven end-to-end solutions and services, we look forward to a continuously growing relationship with France in the future," Laurent added.
Meanwhile, shares of the company closed at Rs 155.25 apiece, down 4.28 per cent, from previous close on BSE.