HPL Electric & Power Bags Rs 178.9 Cr Order for Smart Meters

Electric equipment manufacturer HPL Electric & Power has secured an order worth Rs 178.9 crore for smart meters from the largest private utility of a state in Eastern India amidst stiff competition.
 
Under the contract, the company will provide different types of Smart Energy meters and related services for the project.
 
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.
 
Commenting on winning the order, Gautam Seth, Joint Managing Director of HPL Electric & Power, said, “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 the country is facing several challenges due to the present scenario, this project comes at a crucial juncture when the Indian government has earmarked a sum of Rs 22,500 crore as the central government grant 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.
 
“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,” Seth said.