- Under the project,
Adani transmissionwill install 1.08 million smart meters in 30 months and manage them for 90 months.
- These smart meters will include grid metering and the option to switch to a prepaid model.
- Shares of Adani Transmission were up more than 1.6% in the first half of trading Thursday.
Adani Transmission said on Thursday it had won a project from BEST – Brihanmumbai Electric Supply and Transport – to install 1.08 million smart meters in Mumbai.
In a press release, the company announced that its contract includes installing the smart meters in 30 months and then maintaining them for the next 90 months.
The project will be on a design, build, financing, ownership, operation and transfer basis – essentially it is Adani Transmission’s responsibility to take the project from start to finish and hand it over to BEST.
Shares of Adani Transmission were up more than 1.6% in the first half of trading Thursday.
“This is another new initiative for us as we secure our first competitive smart meter project within our distribution platform and establish a trusted partnership with
What are smart meters?
As the name suggests, these meters will allow BEST consumers to monitor and manage their electricity consumption remotely. These meters also allow users to switch to a prepaid model, which can be useful when users are on a long vacation and do not use electricity for an extended period of time.
Apart from this, these smart meters also have a grid metering option – if the user has installed a solar panel, this feature will automatically detect their total electricity consumption and subtract the generated energy from their solar panels. The user only needs to pay the shortfall or get a credit after the calculation.
Users can also manage their devices remotely via a mobile application in case those devices are not yet equipped with smart features.
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