Smart electricity meters: Intellismart has big plans, to raise loan of Rs 10,000 crore

Intellismart, a joint venture between Energy Efficiency Services (EESL) and National Investment and Infrastructure Fund (NIIF), sees an opportunity to install over 20 million smart meters in the country in the next 2 years. The company would need to raise around Rs 10,000 crore in loans to fund the installations.

Anil Rawal, MD & CEO of Intellismart, told FE that state electricity distribution companies have understood the benefits of smart meters not just in terms of controlling power theft, efficient billing and collections, but also for data mining and analysis.

“Around 40 million smart meters are under tendering across various states. We, along with our parent company EESL, have installed about 70% or 2.5 million of all the installed smart meters in the country till date.