NIIF, EESL form joint venture for smart meter roll-out
The National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Ltd (EESL) have announced a new joint venture to implement, finance and operate the smart meter roll-out by power distribution companies.
The venture, called IntelliSmart Infrastructure Pvt Ltd, will lay the foundation for smart grids, which will be crucial to the government’s target of providing uninterrupted power supply in the country.
EESL was established in 2009 as a joint venture of NTPC Ltd, Power Finance Corporation, Rural Electrification Corporation, and Power Grid Corporation of India. NIIF is a fund that invests in infrastructure and related sectors and currently manages around $4 billion in capital.
