Adani Energy is acquiring smart metering firm IntelliSmart for ₹3,050cr
What's the story
Adani Energy Solutions Limited (AESL) has announced its plan to acquire IntelliSmart Infrastructure Private Limited for ₹3,050 crore. The acquisition will create India's largest smart metering platform with a combined portfolio of over 4.7 crore meters. Currently, IntelliSmart has over 2.2 crore smart meters in its portfolio while AESL's order book stands at over 2.46 crore meters in the same domain.
Company profile
Top 3 players in smart metering space
IntelliSmart is a joint venture between the National Investment and Infrastructure Fund (NIIF) with a 51% stake, and Energy Efficiency Services Limited (EESL), which holds the remaining 49%. The company has established itself as one of India's top three players in the smart metering space, with over 2.2 crore smart meters across Uttar Pradesh, Gujarat, Madhya Pradesh, Bihar and Assam.
Market growth
Boosting AESL's position in smart metering market
The acquisition will significantly boost AESL's position in India's smart metering market. "Acquisition of IntelliSmart enhances our scale and execution capabilities, enables us to support India's power distribution modernization through technology-led solutions," said Kandarp Patel, CEO of Adani Energy Solutions. Anil Rawal, MD & CEO of IntelliSmart, noted that the transaction is expected to spur further investments and accelerate digitalization in the power distribution sector.
Company reach
India's largest private transmission company
AESL, a part of the Adani Group, is India's largest private transmission company. It has an extensive network of 27,949 circuit kilometers and a transformation capacity of 1,23,175 MVA across 16 states. The company also caters to over 13 million distribution consumers in Mumbai and Mundra SEZ. The acquisition is expected to further strengthen AESL's position in the energy sector.