CPPIB, ADIA keen on smart meter business
NEW DELHI : Attracted by the world’s largest electricity smart metering programme underway in India, Canada’s largest pension fund manager Canada Pension Plan Investment Board (CPPIB) and sovereign wealth fund Abu Dhabi Investment Authority (ADIA) have evinced interest for investing in the same to National Investments and Infrastructure Fund (NIIF), said two people aware of the development.
This comes in the backdrop of NIIF being present in India’ smart meter programme space through IntelliSmart—its joint venture with state-run Energy Efficiency Services Ltd (EESL), that works on a build-own-operate and transfer (BOOT) model. India aims to replace 250 million conventional meters with smart meters, that also hold the key to its electricity distribution reforms.
