HPL Electric & Power Ltd. (HPL), a provider of electrical equipment and solutions, on Tuesday announced the successful acquisition of Rs 903 crore (inclusive of Tax) smart meter orders. These orders, the company said, further bolsters HPL’s total pending pipeline order book, which took the total order book to Rs 2,250 crore. “These significant smart meter orders underscore HPL Electric & Power Ltd’s commitment to innovation and reinforces its role in India’s mass smart-meter adoption,” the company said in a regulatory filing.
HPL Electric & Power Ltd’s smart meters, it said, excel in accuracy and in features such as real-time remote data monitoring. These also contribute to a greener and more sustainable future.
“We are delighted to secure these additional prestigious smart meter orders, achieving another milestone in our efforts to be at the forefront of India’s smart-meter implementation,” said Gautam Seth, Joint Managing Director & CFO, HPL Electric & Power Ltd.
“Our smart meters can significantly enhance demand-side energy efficiency by providing real-time data on energy consumption to both consumers and energy providers. They enable consumers to monitor and adjust their usage habits to off-peak hours, reducing strain on the grid, and allow for the implementation of dynamic pricing strategies that can incentivize energy conservation,” he added.
