(ET)
National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL) announced a new joint venture to implement, finance and operate the smart meter roll-out programme of power distribution companies.
The joint venture IntelliSmart will operate by leveraging the expertise and capital of both the shareholders, EESL and NIIF. IntelliSmart will work collaboratively with all stakeholders to procure, deploy and provide operations and maintenance for the smart meter infrastructure, an official statement said.
Saurabh Kumar, Managing Director, EESL stated, “India has embarked upon a mission to reduce AT&C losses; proven world over for enabling universal, transparent and responsible energy consumption, and smart meters can play a central role in enabling such an endeavour. This venture will support the ambitions of ongoing government programmes, such as UDAY and National Smart Grid Mission.”
