Polaris Smart Metering gets Rs 5,200 crore smart meter project in Uttar Pradesh
As per the agreement, Polaris Smart Metering will supply, commission, install and maintain smart meters for consumers and system metering across the consumer base in these clusters for the next 10 years, it said.
![Polaris Smart Metering gets Rs 5,200 crore smart meter project in Uttar Pradesh](https://cdn.zeebiz.com/sites/default/files/2024/01/29/278079-1080x360.jpg?im=FitAndFill=(1200,900))
Polaris Smart Metering on Monday said it has secured two smart meter projects totalling Rs 5,200 crore in Uttar Pradesh.
"Madhyanchal Vidyut Vitran Nigam Limited (MVVNL) has awarded the contracts for installing over 5.1 million smart meters in the important clusters of Lucknow and Ayodhya/Devipatan, which the company plans to install over the next 27 months," Polaris Smart Metering said in a statement.
As per the agreement, Polaris Smart Metering will supply, commission, install and maintain smart meters for consumers and system metering across the consumer base in these clusters for the next 10 years, it said.
These smart meters will be equipped with state-of-the-art technology, enabling prepaid billing, real-time energy monitoring, accurate metering, and improved grid management capabilities. This contract comes under a Design-Build-Finance-Operate-Own-Transfer (DBFOOT) agreement.
Meanwhile, Polaris has also received Letter of Awards (LOAs) from West Bengal and Manipur worth over Rs 2,400 crore to install more than 2.3 million smart meters across these two states.
The primary objective of this project is to reduce losses for discoms (power distribution companies) and to empower consumers by introducing smart prepaid meters, enabling them to have better control over their energy consumption, the company said.
Yashraj Khaitan, CEO, Polaris Smart Metering, said: "Our smart metering solutions will empower consumers with actionable insights into their energy consumption, while simultaneously delivering substantial benefits to the state governments in terms of improved grid efficiency, reduced pilferage, and improved environmental sustainability." The win in Uttar Pradesh and the LOAs in West Bengal and Manipur underscore Polaris's commitment towards digitising and transforming India's electricity grid and marks a significant stride towards a smarter and more sustainable energy future for the country, he said.
Bhawani Singh Khangarot, MD, MVVNL, said, smart metering technology is integral to modernising our energy infrastructure. Smart metering addresses grid losses, optimizes load management, and contributes to environmental conservation.
Jaipur-based Polaris is into manufacturing and implementation of smart metering projects.
Catch the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/personal-finance/photo-gallery-new-income-tax-bill-regime-slabs-old-existing-proposed-revised-calculator-what-will-be-your-tax-on-annual-income-salary-of-inr-rs-800000-1400000-2000000-2600000-nirmala-sitharaman-budget-2025-346889](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/13/352870-top7-hybrid-funds-in-10-years-1.jpg?itok=UqwoA5Li)
Income Tax Calculations: What will be your tax liability if your salary is Rs 8 lakh, Rs 14 lakh, Rs 20 lakh, and Rs 26 lakh?
![https://www.zeebiz.com/personal-finance/photo-gallery-dearness-relief-dr-pension-central-government-employee-calculator-calculations-is-your-basic-pension-rs-25000-35000-40000-50000-know-total-amount-AICPI-consumer-index-DA-benchmark-346424](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/12/352375-untitled-design.jpg?itok=1_intAoD)
Monthly Pension Calculations: Is your basic pension Rs 25,000, Rs 35,000, or Rs 50,000? Know what can be your total pension as per latest DR rates
![https://www.zeebiz.com/personal-finance/photo-gallery-monthly-salary-da-dearness-allowance-calculator-what-will-it-be-for-basic-salary-pay-of-inr-rs-25500-35400-53100-50-53-west-bengal-government-hike-inflation-index-central-state-government-employees-347095](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/14/353079-salary-da-calculator.jpg?itok=7eY6cBdg)
Dearness Allowance (DA) Calculations: Is your basic monthly salary Rs 25,500, Rs 35,400, or Rs 53,100? Know how much DA will you get at different rates
![https://www.zeebiz.com/india/news-delhi-ncr-earthquake-latest-news-strong-tremors-felt-across-national-capital-region-richter-scale-usgc-no-early-damage-reports-ghaziabad-greater-noida-date-time-national-center-for-seismology-347402](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/17/353387-earthquake.jpg?itok=nrlHg6Xl)
Delhi-NCR Earthquake Latest News: Quake of 4.0 Richter Scale jolts National Capital in morning hours; people rushed out of their homes after feeling strong tremors
![https://www.zeebiz.com/personal-finance/photo-gallery-power-of-compounding-sip-mutual-fund-retirement-corpus-planning-calculator-how-many-years-it-will-take-to-reach-inr-rs-80000000-with-7000-11000-and-16000-monthly-investment-market-linked-return-346156](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/11/352047-poc-cover-2.jpg?itok=Fa26qSfi)
Power of Compounding: How long it will take to build Rs 8 crore corpus with Rs 7,000, Rs 11,000 and Rs 16,000 monthly investments
![https://www.zeebiz.com/personal-finance/photo-gallery-top-7-sbi-mutual-funds-mf-by-1-time-investment-return-inr-inr-100000-has-grown-to-rs-285000-348000-in-5-years-see-list-compare-sip-returns-347070](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/14/353025-twinimageswithtext-3.jpg?itok=pYist1zW)
Top 7 SBI Mutual Fund MFs by One-time Investment Return: Rs 1 lakh has grown to Rs 2.85 lakh-3.48 lakh in 5 years; see list, compare SIP returns
![https://www.zeebiz.com/personal-finance/photo-gallery-8th-pay-commission-basic-monthly-salary-pension-slab-calculator-can-basic-pension-cross-inr-rs-300000-barrier-in-new-pay-scale-see-calculations-to-know-projected-fitment-factor-index-7th-pm-modi-old-346525](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/12/352430-note-coin-pixabay-take.jpg?itok=yDmxceKf)
8th Pay Commission: Can basic pension cross Rs 3 lakh mark in new pay commission? See calculations to know its possibility?
03:30 PM IST