Adani Transmission bags project from BEST to install over 1 million smart meters in Mumbai

• Under the project, Adani Transmission will install 1.08 million smart meters over 30 months, and manage them for the following 90 months.
  
• These smart meters will sport features like net metering and the option to switch to a prepaid model, among other things.
  
• Shares of Adani Transmission surged over 1.6% in the first half of trade on Thursday.
  

Adani Transmission on Thursday said that it had bagged a project from BEST – Brihanmumbai Electric Supply and Transport – to install 1.08 million smart meters in Mumbai.

In a press release, the company revealed that its contract includes installation of the smart meters over 30 months, and then maintained for the following 90 months.

The project will be on a design, build, finance, own, operate and transfer basis – essentially, the onus is on Adani Transmission to see the project through from start to finish, and transfer it to BEST at the end of the contract.

Shares of Adani Transmission surged over 1.6% in the first half of trade on Thursday.


“This is yet another accretive initiative for us, as we secure our first competitively bid smart metering project under our Distribution Platform and embark on a trusted partnership with BEST Undertaking,” said Adani Transmission’s Distribution CEO Kandarp Patel.

What are smart meters?

As the name suggests, these meters will enable BEST consumers to monitor and manage their electricity usage remotely. These meters will also allow users to switch to a prepaid model, which can be useful when users are on a long vacation and are not using electricity for extended periods of time.

Apart from this, these smart meters also have a net-metering option – if the user has a solar panel installed, this feature automatically detects their total electricity usage and deducts the energy generated from their solar panels. The user will only have to pay the deficit or will receive a credit post the calculation.

Users will also be able to manage their appliances remotely via a mobile application in case those appliances don’t already come with smart features.

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