New Delhi: HPL Power & Electric Ltd has received an Order of Rs. 178.9 crores from the largest private utility of a state in Eastern India. This further strengthens HPL Electric & Power Ltd.’s leadership position in the smart meter manufacturing sector across Indian Markets. At a time when reports of power shortages are making headlines, smart meters will definitely reduce distribution losses; remove theft and pilferage of power. This prestigious order has been secured amidst stiff competition.
Gautam Seth, Joint Managing Director, HPL Electric & Power, says, “This is a big win for us, fortifying our leadership position in smart meter technology once again. HPL has a whole range of best-in-class metering solutions to meet the requirements of the power industry. This is the start of a positive cycle for smart meter technology adoption leading to a growth in demand across power utility companies. Our recently launched new range of smart meters with NB-IoT communications technology has been developed in-house at HPL’s new R&D facility at Gurugram’.
At a time when country is facing several challenges due to the present scenario, this project comes at a crucial juncture when Indian government has earmarked a sum of Rs 22,500 crore as the central government grants for the installation of 25 crore smart prepaid meters across the country under the Rs 3-lakh-crore scheme for power distribution entities. This project will work in tandem with realizing India’s goal of overhauling the power infrastructure towards a better future.
Gautam Seth, Joint MD, HPL Electric & Power adds, “We are elated to maintain our front runner position in the smart metering technology manufacturer market and our commitment to Indian government’s overhaul of entire power industry deepens.’’
