EDF, Actis launch $200 mn smart meter JV for efficient energy usage, cutting losses, improving billing accuracy | Company Business News-OxBig News Network

EDF India has announced a strategic joint venture (JV) in the smart metering space with Actis, a global investor in sustainable infrastructure. The overall investment into the JV would be around $200 million, said two people in the know of the development.

The collaboration aims to operate a dedicated platform company for advanced metering infrastructure service provider (Amisp) concessions. Under this joint venture, EDF India and Actis will bring together their global expertise in energy solutions and infrastructure investments.

The move aligns with the Centre’s focus on installing smart meters under the National Smart Metering Project of the Revamped Distribution Sector Scheme (RDSS), wherein the government is targeting the deployment of 250 million smart meters by 2025.

Also read | NTPC, France’s EDF tie up for pumped storage, green and distribution projects

Advanced metering solutions are designed to enhance operational efficiencies, reduce aggregate technical and commercial losses, and bolster the financial sustainability of India’s power distribution companies (discoms).

Commenting on the joint venture, Federico D’Amico, chief executive officer of EDF India, said, “We are excited to join hands with Actis to accelerate the deployment of smart metering infrastructure in India. This partnership underscores our commitment to supporting India’s energy transition by leveraging our global expertise and innovation in digital grid technologies.”

Asanka Rodrigo, partner at Actis, said smart metering is critical to ensuring efficient energy consumption, reducing losses and improving billing accuracy for consumers. “We look forward to working with EDF, a leader in the sector globally, to scale our joint venture in India,” Rodrigo added.

Network efficiency

Actis said the JV between EDF India and Actis aligns with India’s broader vision of achieving a more resilient and efficient power distribution network. By leveraging cutting-edge technology, data analytics and global best practices, the initiative aims to drive a transformative impact on the country’s power sector, benefiting both utilities and consumers alike, it said.

Also read | France’s EDF looks to raise $100 mn to expand smart meter biz

Queries sent to EDF India on the investment amount remained unanswered till the publishing of the story. A spokesperson with Actis declined to comment.

EDF has been a key player in India’s smart metering space. In 2018, the company won a tender to install 5 million smart meters across India and associated advanced metering infrastructure—the deal with state-owned company Energy Efficiency Services Ltd (EESL). The project was officially launched on 10 October 2018.

According to the company website, it has installed over 100,000 smart meters in Bihar so far. Currently, EDF International Networks deploys 1,300 meters daily. It has also developed a complete IT solution featuring a pre-paid system.

Actis is a global investor in sustainable infrastructure and invests in structural themes that aim to support long-term, equitable growth in defensive, critical infrastructure across energy transition, digitalization transition and supply chain transformation. It is also a signatory to the Principles for Responsible Investment, an investor initiative supported by the United Nations.

Also read | State-run EESL plans to sell its 49% stake in IntelliSmart