AESL Partners with Esyasoft Holdings to Boost Smart Metering Business
Under the JV, AESL has acquired a 49 percent stake in Esyasoft's smart metering solutions arm, which is now named Adani Esyasoft Smart Solutions Ltd.
December 29, 2023. By Abha Rustagi
Under the JV, AESL, a private transmission and distribution company, has acquired a 49 percent stake in Esyasoft's smart metering solutions arm, which is now named Adani Esyasoft Smart Solutions Ltd.
The transaction, executed through AESL's subsidiary, Adani Transmission Step-Four Limited, aims to enhance the smart metering capabilities of both entities. The partnership deepens the collaboration between Adani and Abu Dhabi’s International Holding Company (IHC), a major shareholder in Esyasoft.
The JV, with approximately 100 experts across India, the UAE, the UK, and KSA, will not only serve AESL's current and future requirements but will also bid for and execute smart metering projects in India and globally.
Esyasoft, known for its cloud and IoT-based energy management solutions, brings valuable intellectual property and a track record of serving utilities worldwide.
Kandarp Patel, CEO of AESL, expressed enthusiasm, stating, "The JV will open up new vistas in international geographies where the smart metering concept is gaining traction and will aggressively pursue such opportunities."
Ajay Bhatia, Group CEO of Sirius International Holding, Esyasoft's major shareholder, highlighted the global reach of Esyasoft's smart metering solutions, which currently serve over 25 million consumer endpoints in 10+ countries.
AESL already boasts an order book of around 20 million smart meters from various discoms, and India's smart metering market, with an expected size of about 250 million premises, indicates significant growth opportunities for the future.
please contact: contact@energetica-india.net.
Sharat Goyal
Founder
Impact Infracap Bridges Market Gaps for Key Renewable Energy Components
Pashu Gopalan
President & CEO
The Future of Distributed Solar in India: Market Potential, Growth, and Fenice Energy’s Role
Udit Garg
Director & CEO
India's Energy Security: A Multi-Faceted Challenge and Opportunity
Sangram Singh
Ecofy
Ecofy Enables Faster Renewable Energy Adoption with Smart Green Loans
Dinesh Arjun
Co-Founder and CEO
Raptee.HV Redefines Electric Two-Wheeler Efficiency with Innovative High-Voltage Architecture