Adani Transmission gains on winning BEST contract to install smart meters

Adani Transmission rose 1.56% to Rs 3189.10 after the company said it emerged as the successful bidder in the BEST Undertaking's recently concluded tender for appointment of advanced metering infrastructure (AMI) service provider.

The company's distribution platform shall implement the smart metering project on design-build-finance-own-operate-transfer (DBFOOT) basis.

As a part of the contract, 10.80 lakh smart meters and related communication & cloud infrastructure will be installed over a period of 30 months and maintained for the following 90 months. The project shall cover end to end smart metering for distribution infrastructure and end consumers of BEST Undertaking, enabling complete energy accounting with zero manual intervention.

Smart meters will empower BEST consumers to monitor online consumption patterns and take prompt corrective action as deemed necessary. Smart meters also provide an option to opt for pre-paid billing and net-metering facility for housing societies and commercial buildings with roof-top solar facility. BEST will also have the ability to carry out remote connection and disconnection of non-paying customers. Smart meters also enable the regulators to design consumer friendly time of day tariffs and drive overall efficiency in electricity distribution.

Adani Transmission's Distribution CEO, Kandarp Patel stated "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. This project is in line with our long terms goals to deliver customer value by unlocking the potential of technology and digitalization. We are confident to deliver this project as per expectations within a timely manner allowing BEST Undertaking and its consumers to fully capitalize on the potential of digitalization."

Adani Transmission is the transmission and distribution business arm of the Adani Group. Its consolidated net profit declined 61.1% to Rs 168.46 crore despite of 22% increase in revenue to Rs 3,049 crore in Q1 FY23 over Q1 FY22.

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