TIDMCYAN
RNS Number : 5097M
Cyan Holdings Plc
21 January 2016
Cyan Holdings plc
("Cyan" or the "Company")
Follow-on order for smart metering contract in India
Larsen & Toubro place follow-on order for 5,000 smart meters
at Tata Power Mumbai
Cyan (AIM:CYAN.L), the integrated system and software design
company delivering mesh based flexible wireless solutions for
utility metering and lighting control, announces a follow-on order
for a further 5,000 meters from Larsen & Toubro ("L&T") to
expand the deployment of Cyan's smart metering solution at Tata
Power Mumbai ("Tata Power").
This second order from L&T, for Cyan's CyLec Advanced
Metering Infrastructure ("AMI") solution, follows the successful
implementation of 5,000 consumer smart meters in Mumbai, announced
by Tata Power in July 2015:
http://www.tata.com/media/releasesinside/-Tata-Power-commissions-one-of-the-largest-radio-frequency-metering-projects-in-India
The follow-on contract is to provide a complete AMI solution for
the deployment of 4,000 single phase consumer meters and 1,000
three phase meters for high use consumers and light industrial
customers. The order will be delivered to Tata Power over the
coming weeks. Furthermore, due to the investment the Company has
already made in training Tata Power staff to install smart meters
and operate the Cyan AMI solution, delivery of this follow on order
can be achieved without on-site assistance from Cyan staff,
demonstrating the scalability of its business model.
Discussions have now commenced with Tata Power regarding a
Framework Order to meet their future needs over a multi-year
period.
John Cronin, Executive Chairman of Cyan, commented, "We are
delighted to have a follow-on order from L&T, providing a clear
signal to customers, partners and shareholders that Cyan's AMI
communications platform is ideally suited for emerging market
technical requirements as well as reconfirming our leadership
position in the India smart metering market. Tata Power is
pioneering initiatives in the generation and transmission of
electricity and the success of this project has provided Cyan with
a strong customer reference for opportunities in India.
"Cyan's communication platform is an enabling technology,
delivered through a collaborative engagement model. Our eco-system
of partners supports the transfer of skills to facilitate customer
ownership, demonstrating a scalable business model.
"I would like to thank Tata Power and Cyan's partners, L&T
and NeoSilica, for their valuable contribution and look forward to
their continued support to successfully deploy the next phase of
this project."
Mr. Ashok Sethi, COO & ED, Tata Power, commented, "Tata
Power is committed to providing its customers with affordable,
clean and abundant power. Cyan's CyLec smart metering technology
provides data to enable Tata Power to distribute power more
efficiently, improving the reliability of the customer's power
supply and optimising peak power demand management. CyLec also
provides customers with hourly usage patterns, empowering them to
consume energy efficiently and reduce monthly bills."
Currently, Mumbai is experiencing unprecedented growth,
augmenting the demand for sustainable power. This is reflected in
the growth of Tata Power's consumer base which has increased by
50%, from 400,000 in 2014 to over 600,000 consumers today. Tata
Power is India's largest integrated power company with a growing
international presence.
Cyan's technology has been developed to address the requirements
of utilities in emerging economies, of which India is one of the
leaders; India has a growing population and 300 million without
power(1) . According to a report from Northeast Group, the Indian
government will spend $21.6 billion(2) on smart grid infrastructure
over the period 2015-2025. In November 2015(3) , the India Ministry
of Power announced a program to implement smart metering for all
consumers serviced by state distribution companies with completion
deadlines ranging from December 2017 for high power usage
households through to December 2019 for the remainder. This will be
financed via the States taking over 75% of existing State power
distribution company debt (through the issuance of new 10 year
bonds) together with an arrangement for the States to take over
future losses of the distribution companies. At present, India has
200 million legacy meters deployed and it is estimated 130 million
smart meters will be installed by 2021(4) . Cyan's business model
is designed to support an organic approach to smart metering
rollouts, from initial deployments in thousands to millions of end
points, through incremental instalments. This staged approach
allows its customers to realise the benefits of Cyan's technology
and create the basis to expand the scale of their deployments in
line with their needs and business cases.
(1) Source:
http://www.hindustantimes.com/analysis/turn-the-light-on-innovation-and-investment/article1-1260113.aspx
(2) Source:
http://www.prnewswire.com/news-releases/india-to-spend-216-billion-on-smart-grid-infrastructure-by-2025-300021970.html
(3) Source:
http://powermin.nic.in/upload/pdf/Uday_Ujjawal_Scheme_for_Operational_and_financial_Turnaround_of_power_distribution_companies.pdf
(4) Source:
http://asian-power.com/sites/default/files/asianpower/print/APMay_2013_lr_12.pdf
Enquiries:
Cyan Holdings plc Tel: +44 (0) 1954 234
400
John Cronin, Executive Chairman www.cyantechnology.com
Cantor Fitzgerald Europe - Nomad and Tel: +44 (0) 20 7894
Broker 7000
Andrew Craig/Chris Viggor
Beaufort Securities Limited - Joint Broker Tel: +44 (0) 20 73828300
Jon Belliss
Walbrook PR - Financial PR Tel: +44(0) 20 7933 8780
Paul Cornelius/Nick Rome cyan@walbrookpr.com
About Cyan
Cyan provides a communication platform for energy, lighting and
emerging applications in the wider 'Internet of Things' network.
Its integrated platform and partner collaborations deliver
end-to-end solutions that connect millions of devices and support
bidirectional communication with the end customer. Cyan's smart
metering and lighting solutions enhance quality of service in
emerging regions, through power savings, lower operating costs and
increased cost efficiency. Our vision to create improved value
through Smart City solutions has provided our customers with the
foundation upon which to build incremental services as these
markets evolve.
For more information, please visit www.cyantechnology.com.
About CyLec(R)
CyLec is a complete control and communication network for
electricity metering. CyLec uses wireless technology to enable the
collection and delivery of data from and to a meter, such as energy
profiles, instant readings and the sending of tariff updates.
Priority data can also be sent back to the utilities such as
information regarding tampering enabling the utility to take action
immediately.
About Tata Power
Tata Power is India's largest integrated power company with a
growing international presence. The Company together with its
subsidiaries and jointly controlled entities has an installed gross
generation capacity of [8669] MW and a presence in all the segments
of the power sector viz. Fuel Security and Logistics, Generation
(thermal, hydro, solar and wind), Transmission, Distribution and
Trading. It has successful public-private partnerships in
Generation, Transmission and Distribution in India namely "Tata
Power Delhi Distribution Limited" with Delhi Vidyut Board for
distribution in North Delhi, 'Powerlinks Transmission Ltd.' with
Power Grid Corporation of India Ltd. for evacuation of Power from
Tala hydro plant in Bhutan to Delhi and 'Maithon Power Ltd.' with
Damodar Valley Corporation for a 1050 MW Mega Power Project at
Jharkhand. Tata Power has developed the country's first 4000 MW
Ultra Mega Power Project at Mundra (Gujarat) based on
super-critical technology. It is also one of the largest renewable
energy players in India. Its international presence includes
strategic investments in Indonesia through a 30% stake in the
leading coal company PT Kaltim Prima Coal (KPC), 26% stake in mines
at PT Baramulti Suksessarana Tbk ("BSSR") and a geothermal project;
in Singapore through Trust Energy Resources to securitise coal
supply and the shipping of coal for its thermal power generation
operations; in South Africa through a joint venture called
'Cennergi' to develop projects in South Africa, Botswana and
Namibia; in Australia through investments in enhanced geothermal
and clean coal technologies and in Bhutan through a hydro project
in partnership with The Royal Government of Bhutan. With its track
record of technology leadership, project execution excellence,
world class safety processes, customer care and driving green
initiatives, Tata Power is poised for a multi-fold growth and
committed to 'lighting up lives' for generations to come. Visit us
at: www.tatapower.com
About Larsen & Toubro
Larsen & Toubro is a USD 15 billion technology, engineering,
construction, projects, manufacturing and financial services
conglomerate, with global operations.
The company is engaged in core, high-impact sectors -
infrastructure, construction, defence, hydrocarbon, heavy
engineering, power, aerospace, shipbuilding, electrical &
automation, mining and metallurgy. Its integrated capabilities span
the entire spectrum of 'design-to-deliver', and it offers turnkey
EPC solutions in its major business lines. Its track record covers
products, projects and processes executed to international
benchmarks.
Electrical & Automation is a major business portfolio of
Larsen & Toubro. The business basket of Electrical &
Automation (E&A) contains low and medium voltage switchgear
products, electrical systems, energy meters and automation
solutions. Its products and solutions cater to industry, utility,
building & home, infrastructure and agriculture segments.
About NeoSilica
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