Adani Energy Solutions: After LNG, Adani Industries has made a major bet on electricity. Now, AESL is going to install smart prepaid meters in major states like Madhya Pradesh, Uttar Pradesh, and Gujarat.
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Smart Prepaid Meter: Veteran businessman Gautam Adani’s company, Adani Ports and Special Economic Zone (APSEZ), has received a contract for Argentina’s first LNG export project. Following this, the company has made another significant move. Adani Energy Solutions Limited (AESL), an Adani Group company, is now installing smart prepaid meters in Uttar Pradesh and other states.
Adani Energy Solutions Limited (AESL) has signed an agreement to acquire IntelliSmart Infrastructure Private Limited, an Indian smart meter company, for ₹ 3,050
crore. Under this deal, Adani will acquire 100 percent of IntelliSmart’s stake. However, the deal still needs to be completed and certain regulatory approvals are still pending.
Smart meters will be installed in these states including Uttar Pradesh.
IntelliSmart is a partner company of National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL). This company is going to install smart prepaid meters in lakhs of houses in Uttar Pradesh. These smart prepaid meters will be installed not only in UP but also in states like Gujarat, Madhya Pradesh, Bihar and Assam. The purpose of installing these meters is to improve the billing system of electricity distribution companies across the country, to reduce electricity theft and losses. With this, smart meters it is also easy to keep a real-time watch on electricity consumption.
Smart meter business will expand.
After acquiring AESL’s IntelliSmart Infrastructure, the company’s smart meter business will expand significantly. The total number of existing and newly connected smart meters will exceed 47 million. With this, Adani Energy will become the largest smart meter company in the country. For Adani Energy, this deal is considered a major step in expanding beyond its traditional transmission business into technology-based energy services. The company says that this will increase operational efficiency and operating at a larger scale will also reduce maintenance costs.
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