Adani Energy becomes largest smart meter company:Latest acquisition expands company’s portfolio size to 4.7 crore smart meters

Adani Energy Solutions Limited (AESL) has acquired IntelliSmart Infrastructure Company. This deal has been completed for a total of ₹3,050 crore. Under this, AESL will get complete 100% stake in IntelliSmart. IntelliSmart is one of India’s leading smart metering companies. The company has more than 2.2 crore smart meters in UP, Gujarat, MP, Bihar and Assam. After this acquisition, AESL’s total number of smart meters will increase to more than 4.7 crore. With this, AESL has become the country’s largest smart meter company. IntelliSmart is a joint venture of NIIF and EESL. This deal includes acquisition of complete equity. Along with this, Adani will also repay NIIF’s entire outstanding debt in this company. AESL’s smart metering business currently has an order book of more than 2.46 crore meters Meanwhile, AESL’s smart metering business currently has an order book of more than 2.46 crore meters. After the acquisition, the company will have a portfolio of 4.7 crore smart meters and this will further strengthen Adani Energy Solutions’ top position in India’s smart metering market. Adani Energy Solutions says that after this acquisition, it will have a portfolio of more than 4.7 crore smart meters. This will make the company India’s largest smart metering platform. Smart meters play a crucial role in providing real-time electricity consumption information to electricity consumers, bringing transparency in billing, and preventing electricity theft. The central government is also rapidly advancing its plan to install smart meters across the country. In this context, this acquisition is being considered quite strategic for the future. Consumers will get accurate electricity bills: CEO Adani Energy CEO Kandarp Patel said that the acquisition of IntelliSmart will further strengthen the company’s capability and execution power. This will help provide technology-based solutions in the modernization of India’s power distribution sector. Additionally, large-scale operations will reduce costs and achieve better efficiency. This will ensure that common consumers receive accurate electricity bills and the problem of incorrect bills will be eliminated.