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23 March, 2018 12:23 IST
CG bags order of worth Rs 1.07 bn from EESL
Source: IRIS | 08 Feb, 2018, 12.43PM
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Avantha Group Company, CG Power and Industrial Solutions (CG) has bagged an order worth Rs 1.07 billion from Energy Efficiency Services (EESL), Power Ministry, Government of India, New Delhi for Low Voltage Motors.

EESL had invited its first tender for energy efficient IE3 Motors from all the major Motor manufacturers. CG was the only manufacturer to receive more than 50% of the tender quantity as a largest supplier. Total supplies will be completed within next six months' time.

The order is of significance to CG's Low Voltage Rotating Machines business as this adds momentum to the energy efficiency journey and opens up huge opportunities in energy efficient IE3 Motors segment.

Commenting on this prestigious win, Avantha Group Company CG's CEO & Managing Director, K. N. Neelkanth said, ''We thank EESL for this opportunity. This win reaffirms trust that industry has shown in CG’s manufacturing capability. At CG, we are committed to the cause of energy efficiency and consistently strive to provide best quality solutions to our clients.''

EESL is a joint venture of four Nation Public Sector Enterprises viz. NTPC, PFC, REC and POWERGRID that has been set up under the Ministry of Power. EESL is focused on promoting Energy Efficient Products and Solutions.

Shares of the company gained Rs 2.45, or 2.85%, to trade at Rs 88.30. The total volume of shares traded was 145,587 at the BSE (12.32 p.m., Thursday).

CG Power and Industrial Solutions Limited   (Q,N,C,F)*

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