Jaipur-based Polaris Smart Metering secured ₹5,200 crore contracts from Madhyanchal Vidyut Vitran Nigam Limited (MVVNL) for smart prepaid metering in Uttar Pradesh. The deal covers installation of 5.1 million smart meters in Lucknow and Ayodhya/Devipatan clusters over the next 27 months.
As per the agreement, Polaris Smart Metering will provide, commission, install, and maintain smart meters for consumers and system metering in these clusters for the next decade. The contract operates under a Design-Build-Finance-Operate-Own-Transfer (DBFOOT) arrangement.
Beyond Uttar Pradesh, Polaris secured Letter of Awards (LOAs) in West Bengal and Manipur, exceeding ₹2,400 crores, for the installation of over 2.3 million smart meters. Earlier contracts include Bihar and Ladakh installations, totaling over ₹118 Cr.
The primary goal of the project is to reduce losses for DISCOMs and empower consumers through smart prepaid meters, providing better control over energy consumption. Smart meters grant real-time access to usage data, fostering informed decision-making for energy conservation. Consumers gain flexibility in recharging, avoiding monthly meter reader visits and billing hassles, enhancing satisfaction and streamlining the process.
Yashraj Khaitan, CEO of Polaris Smart Metering, highlighted the potential benefits for both consumers and state governments. Khaitan emphasized the company’s commitment to digitizing and transforming India’s electricity grid for a smarter and more sustainable energy future.
Bhawani Singh Khangarot, MD of MVVNL, echoed the sentiment, stating that the strategic partnership with Polaris aligns with the vision for reliable, efficient, and sustainable energy services. Khangarot expressed confidence in the positive impact of smart metering technology on network efficiency and sustainability.
