Polaris Smart Metering has secured two smart meter projects in Uttar Pradesh worth a total of Rs 5,200 crore. The contracts, awarded by Madhyanchal Vidyut Vitran Nigam Limited (MVVNL), involve installing over 5.1 million smart meters in Lucknow and Ayodhya/Devipatan. Under the agreement, Polaris Smart Metering will supply, commission, install, and maintain the smart meters for the next 10 years.
Polaris Smart Metering, a company controlled by global private equity firm I Squared Capital, has secured two smart metering contracts worth Rs 5,200 crore ($625 ..
Homegrown smart metering firm Gram Power is eyeing a multi-fold growth in topline in the current fiscal as it is set to ramp up the manufacturing capacity to 10 million units per annum, according to a top company official.
“We have set up a manufacturing unit with a capacity of up to 3 million
According to Yashraj Khaitan, co-founder and CEO of Gram Power, this is I Squared Capital’s first investment in the smart metering space in India while it has, so far, invested about $1.7 billion in India’s infrastructure assets including the renewable energy space