Global Investors Compete for IntelliSmart Infrastructure's Smart Meter Business
Global funds, Adani, GMR, others in race for NIIF's smart meter business
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IntelliSmart Infrastructure, a company specializing in smart electricity metering systems, is attracting significant interest from global and domestic investors, with bids valuing it at approximately $400 million (around ₹3,700 crore). The sale aligns with India's goal to install 250 million smart meters by 2028 under the Revamped Distribution Sector Scheme.
- 01IntelliSmart Infrastructure is valued at approximately $400 million (around ₹3,700 crore).
- 02The sale process has attracted bids from global firms like KKR and Macquarie, as well as domestic players such as Adani Energy Solutions.
- 03IntelliSmart has installed around 1.1 million smart meters in Assam and Uttar Pradesh.
- 04The Indian government aims to install 250 million smart meters by 2028 to improve energy efficiency.
- 05Smart meter penetration in India is currently at 5-6%, significantly lower than developed nations.
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IntelliSmart Infrastructure, owned by India's National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Ltd (EESL), is in the process of being sold, attracting interest from both global and domestic investors. The company has received about 10 bids, with a projected equity valuation of $400 million (around ₹3,700 crore). Notable bidders include global firms such as Partners Group, Macquarie, KKR, and Actis, alongside domestic companies like Adani Energy Solutions and GMR Smart Electricity Distribution. Established in 2019, IntelliSmart has successfully installed around 1.1 million smart meters across India, with ambitious plans to install 250 million smart meters by 2028 under the Revamped Distribution Sector Scheme (RDSS). This initiative is backed by an estimated investment of ₹1.35 lakh crore and aims to reduce technical and commercial losses in electricity distribution. The current smart meter penetration in India stands at 5-6%, significantly lagging behind countries like Japan and the US, highlighting the urgent need for improved energy efficiency.
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The sale of IntelliSmart and the subsequent rollout of smart meters will significantly enhance energy efficiency and reliability in electricity distribution across India, benefiting consumers and the environment.
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