India’s Adani and UAE’s Eysasoft partner on smart metering joint venture
Polygonal mesh line map of India. Courtesy 123rf
Adani Energy Solutions Limited (AESL), a private transmission and distribution company, has formed a 49:51 joint venture with Esyasoft Holdings for implementing smart metering projects in India and other countries.
Through its wholly owned subsidiary, Adani Transmission Step-Four Limited, AESL has acquired the 49% stake in Esyasoft’s smart metering solutions arm.
The entity, which has been renamed Adani Esyasoft Smart Solutions Ltd, should cater to its current and future application software needs and lead to an expediting of the rollout of smart meters.
As such the jv will bid for and execute Indian and global smart metering orders.
It has approximately 100 experts spread across India, the UAE, UK and Saudi Arabia, serving major Indian discoms, Scottish Gas and UAE-based utilities including Dubai Electricity and Water Authority, Etihad Water and Electricity, Sharjah Electricity, Water and Gas Authority and Abu Dhabi Distribution Company.
The transaction is also expected to deepen the relationship between Adani and Abu Dhabi’s International Holding Company (IHC), which is a major shareholder in Esyasoft through its subsidiary Sirius International Holdings.
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“AESL is very happy to partner with Esyasoft to create a niche joint venture to provide critical and integrated solutions for the seamless national rollout of our smart metering business,” said Kandarp Patel, CEO of AESL, in a release.
“Besides giving us a strong execution edge locally, the JV will open up new vistas in international geographies where the smart metering concept is gaining traction and will aggressively pursue such opportunities.”
Esyasoft, a provider of cloud and IoT-based energy management solutions, has been catering to the energy automation sector with a repository of IP and solutions for smart utilities, including meter data management, big data analytics in load forecasting, theft analysis, consumer behaviour analysis and GIS among more.
AESL on the other hand has an order book of about 20 million smart meters from discoms including BEST Mumbai (1.1 million), Maharashtra (11.5 million), Uttarakhand (0.6 million), Andhra Pradesh (4.1 million), Bihar (2.8 million) and Assam (0.8 million).
The company’s own distribution arm Adani Electricity Mumbai has already installed a majority of its 0.7 million smart meters planned in phase 1.
“We are happy to join hands with Adani Energy Solutions to offer our cutting-edge smart metering solutions for the Indian and global markets,” said Ajay Bhatia, Group CEO of Sirius International Holding, Esyasoft’s major shareholder.
“Currently, Esyasoft is one of the leading smart metering platform and solutions providers globally, with 25+ million consumer end points serving in 10+ countries.”
India’s smart metering business market size is expected to cater to about 250 million premises, of which tenders for 80 million meters are yet to be floated, indicating significant growth opportunity in the future.
