What is Apraava Energy's latest funding for smart meters?

Apraava Energy secured ₹800.9 crore (around $92 million) from British International Investment and Standard Chartered.

How will the $92 million investment impact India's energy sector?

The investment will accelerate the installation of over 2 million smart meters, enhancing grid efficiency and supporting India's energy transition goals under the RDSS scheme.

What is the Revamped Distribution Sector Scheme (RDSS) in India?

RDSS is a government scheme aiming to improve power distribution efficiency and sustainability by promoting the rollout of smart meters nationwide.

Home / Business and Economy / India's Energy Future Powers Up With $92M Smart Meter Deal

India's Energy Future Powers Up With $92M Smart Meter Deal

3 Dec

•

Summary

Apraava Energy secured $92 million from BII and Standard Chartered.
Funding will accelerate smart meter installation, aiming for over 2 million units.
This investment supports India's ambitious goal of 250 million smart meters by 2026.

India's Energy Future Powers Up With $92M Smart Meter Deal

Apraava Energy has successfully secured ₹800.9 crore, approximately $92 million, through financing agreements with British International Investment (BII) and Standard Chartered. These funds are earmarked for expanding Apraava's Advanced Metering Infrastructure (AMI) across India. The dual financing, with ₹400.5 crore from BII and ₹400.4 crore from Standard Chartered, underscores a robust partnership aimed at channeling capital into India's crucial energy sector.

This financial backing is set to significantly boost Apraava's smart meter deployment, with an objective to install over two million smart meters in homes and businesses. This initiative is a key component of India's Revamped Distribution Sector Scheme (RDSS), a substantial program focused on modernizing the power sector and achieving ambitious targets, including the installation of 250 million smart meters by 2026.