Adani Energy Solutions Acquires IntelliSmart to Lead Smart Metering in India
Adani Energy acquires IntelliSmart, becomes India's top smart meter firm
Asianet Newsable
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Adani Energy Solutions Limited is set to acquire IntelliSmart Infrastructure for ₹3,050 crore, positioning itself as India's largest smart metering provider with over 4.7 crore meters. The deal is expected to enhance operational efficiencies and support modernization in power distribution.
- 01Adani Energy Solutions Limited (AESL) will acquire a 100% stake in IntelliSmart Infrastructure for ₹3,050 crore.
- 02The acquisition will give AESL a portfolio of over 4.7 crore smart meters, making it the largest smart metering platform in India.
- 03IntelliSmart has installed over 2.2 crore smart meters across states like Uttar Pradesh, Gujarat, and Madhya Pradesh.
- 04The deal aligns with AESL's strategy for growth through both organic and inorganic means, aiming for operational synergies.
- 05Key stakeholders believe this transaction will accelerate digitalization in India's power distribution sector.
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Adani Energy Solutions Limited (AESL) has announced its acquisition of a 100% stake in IntelliSmart Infrastructure for ₹3,050 crore. This strategic move positions AESL as India's largest smart metering platform, boasting a portfolio of over 4.7 crore smart meters. The acquisition includes the purchase of equity and the redemption of optionally convertible debentures held by the National Investment and Infrastructure Fund (NIIF). IntelliSmart, a joint venture between NIIF and Energy Efficiency Services Limited (EESL), is recognized as one of the top players in the smart metering sector, with over 2.2 crore meters installed across various states including Uttar Pradesh and Gujarat. The deal is expected to enhance AESL's operational capabilities and support modernization in power distribution through technology-driven solutions. Stakeholders have expressed optimism that this acquisition will catalyze further investments and drive the digital transformation of the power sector in India, which is crucial for the overall energy landscape.
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The acquisition is expected to enhance the efficiency of power distribution in India, benefiting both consumers and distribution companies (DISCOMs).
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