According to the sources, Adani Transmission said that BEST (Brihanmumbai Electric Supply and Transport) has awarded it a project to deploy 1.08 million smart meters in Mumbai.
Adani and BEST: Project
The business said in a news statement that its contract calls for the smart meters to be installed during a 30-month period and then maintained for the next 90 months.
On a design, build, finance, own, operate, and transfer basis, Adani Transmission will be responsible for seeing the project through to completion and handing it off to BEST after the contract. On October 20, the first hour of trading saw a 1.6% increase in shares of Adani Transmission.
Adani Transmission’s Distribution CEO Kandarp Patel said that as they obtain their first smart metering project that was competitively bid using our Distribution Platform and begin a reliable partnership with BEST Undertaking, this is another accretive step for them.
About the Smart Meters
Based on the sources, it states that these meters will give BEST’s customers the ability to remotely monitor and control their electricity usage, as the name implies. These meters will also provide users the option to switch to a prepaid model, which can be helpful if they are going on a long trip and won’t need electricity for a while.
In addition, these smart meters offer a net-metering capability that, if the user has solar panels installed, instantly identifies their entire electricity usage and subtracts the energy produced by their solar panels. The user will just need to make the deficit payment or post-calculation credit. If the users’ appliances don’t already have smart features, they will be able to manage them remotely via a mobile application.
Read More: Walmart planning to raise $3 billion for Flipkart to expand in India
