Global Investors Eye IntelliSmart Amid India's Smart Meter Expansion
Big global investors, local cos eye IntelliSmart as smart meter push gains pace in India
The Economic Times
Image: The Economic Times
Several global investors, including Brookfield and Macquarie, are in discussions to acquire IntelliSmart Infrastructure, reflecting the growing interest in India's smart meter market. The Indian government aims to install 250 million smart meters by 2027, backed by significant investments to reduce power distribution losses.
- 01IntelliSmart is valued at approximately $700 million (₹6,520 crore).
- 02The Indian government aims for 250 million smart meters by 2027 under the Revamped Distribution Sector Scheme (RDSS).
- 03IntelliSmart has received orders for 22 million smart meters but has only installed about 1.1 million so far.
- 04EESL, a co-owner of IntelliSmart, is facing financial challenges with long-term borrowings of ₹6,045 crore.
- 05Global investors are increasingly active in India's smart meter sector, with significant acquisitions in recent years.
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IntelliSmart Infrastructure, a key player in India's smart meter market, is attracting interest from several global investors, including Brookfield, Macquarie, KKR, and Actis. The company, which is 51% owned by the National Investment and Infrastructure Fund (NIIF) and 49% by Energy Efficiency Services Ltd (EESL), is valued at around $700 million (₹6,520 crore). The Indian government's Revamped Distribution Sector Scheme (RDSS) aims to install 250 million prepaid smart meters by 2027, supported by an estimated investment of ₹1.35 lakh crore through 2035 to mitigate power distribution losses. Despite securing orders for 22 million smart meters, only about 1.1 million have been installed to date, with various operational challenges contributing to delays. EESL, which has a significant debt burden of ₹6,045 crore, is reportedly selling its stake in IntelliSmart. The growing interest from global investors highlights the potential of India's smart metering sector, with recent acquisitions indicating a trend towards consolidation and expansion in this market.
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The push for smart meters could lead to improved electricity distribution and efficiency in India, benefiting consumers and reducing power losses.
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