A joint venture to execute smart metering projects has been signed by Adani Energy Solutions Limited (AESL), the top private transmission and distribution company in India and a member of the globally diversified Adani portfolio has taken a significant step to grow its smart metering business by forming a 49:51 joint venture for smart metering with UAE-based Isiasoft Holdings.
Adani Transmission Step-Four Limited, AESL’s fully owned subsidiary, has purchased a 49% share in Esyasoft Holdings Limited’s smart metering solutions division. Adani Esyasoft Smart Solutions Limited is the new name for this unit.
Through the deal, Adani and International Holding Company (IHC) of Abu Dhabi will be able to fortify their partnership, as IHC holds a significant stake in Esyasoft through its subsidiary Sirius International Holdings.
The JV will bid on and carry out orders from India and other countries in addition to meeting AESL’s present and future needs. It has about 100 experts, dispersed throughout the UK, KSA, UAE, and India. Leading Indian Discoms, Scottish Gas, and UAE-based utilities like FEWA, DEWA, SEWA, and ADDC are among the clients of these professionals.
Esyasoft is a cloud and Internet of Things (IoT)-based energy management solutions provider with products catering to the energy automation sector. It is endowed with a rich repository of IP (Intellectual Property) and Big Data Analytics in Meter Data Management Systems, Headend Systems, Peak Load Management, Energy Audit, Metering, Billing and Collection, Mobility Solutions, Load Forecasting, Theft Analytics, Consumer Behavior. Offering solutions for smart utilities including analytics and GIS.
Kandarp Patel, CEO, of AESL, said, “We at AESL are very pleased to partner with Esyasoft to establish an exclusive joint venture based on providing turnkey and integrated solutions for the seamless national rollout of our smart metering business. While this JV gives us a strong execution edge locally, it will open up new vistas in international geographies where the smart metering concept is gaining momentum, and will also offer new opportunities. ”
Ajay Bhatia, Group CEO, of Sirius International Holding, and major shareholder of Isiasoft, said, “We are very pleased to partner with Adani Energy Solutions to offer our state-of-the-art smart metering solutions to the Indian and global markets. , Esyasoft is one of the leading smart metering platforms and solution providers globally, serving over 25 million consumer endpoints in over 10 countries. With this partnership, we will add 30 million endpoints. Additionally, Esyasoft also has tailored solutions for renewable energy, energy efficiency, EV charging, analytics, AI tools, etc., which we are confident of offering to other Adani Group companies.”
AESL has an order book of around 2 crore smart meters from Discoms, the best of which is Mumbai (10.8 lahks), Maharashtra Discoms (1.15 crore), Uttarakhand (6.5 lahks), Andhra Pradesh (41.2 lahks), Bihar (28.4 lahks) and Assam. (7.8 lakh) are included. There is a possibility of more orders being added. Adani Electricity Mumbai, the company’s distribution arm, has already installed most of the 7 lakh smart meters planned in Phase 1.
India’s smart metering business is expected to cater to the market size of around 25 crore premises, of which tenders are yet to be issued for 8 crore meters. These tenders indicate ample opportunity for future growth.
Information about Adani Energy Solutions Limited (AESL)
Part of the Adani portfolio, Adani Energy Solutions Limited (AESL) is a multifaceted organization with a strong presence across various aspects of the energy sector, i.e. power transmission, distribution, smart metering, and cooling solutions.
AESL is the country’s largest private transmission company, with a presence in 16 states of India. It has a cumulative transmission network of 20,518 CKM and 53,161 MVA transformation capacity. In its distribution business, AESL serves more than 12 million consumers in the industrial hub of metropolitan Mumbai and Mundra SEZ. AESL is expanding its smart metering business and moving towards becoming India’s leading smart metering integrator.
AESL, with its integrated offering through expansion of its distribution network through parallel licensing, competitive and tailored retail solutions, with a significant share of green energy, is revolutionizing the way energy is efficiently delivered to the end consumer. Bringing change. AESL is a leading source for transforming the energy landscape in the most reliable, economical, and sustainable manner.
