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Polaris Gets Two Order Worth INR 5200 Crore for Smart Prepaid Metering in UP

Madhyanchal Vidyut Vitran Nigam Limited (MVVNL) has awarded the contracts to Polaris for installing over 5.1 million smart meters in the important clusters of Lucknow and Ayodhya/Devipatan, which the company plans to install over the next 27 months.

January 31, 2024. By News Bureau

Polaris Smart Metering has been awarded two contracts valued at over INR 5,200 crore for smart prepaid metering in the state of Uttar Pradesh.

Madhyanchal Vidyut Vitran Nigam Limited (MVVNL) has awarded the contracts to Polaris for installing over 5.1 million smart meters in the important clusters of Lucknow and Ayodhya/Devipatan, which the company plans to install over the next 27 months.

As per the agreement, Polaris Smart Metering will supply, commission, install and maintain smart meters for consumers and system metering across the consumer base in these important clusters for the next 10 years. These smart meters will be equipped with state-of-the-art technology, enabling prepaid billing, real-time energy monitoring, accurate metering, and improved grid management capabilities.

This contract comes under a Design-Build-Finance-Operate-Own-Transfer (DBFOOT) agreement. In addition to Uttar Pradesh, Polaris has also received Letter of Awards (LOAs) from the states of West Bengal and Manipur, totaling over INR 2400 crores, and is set to install more than 2.3 million smart meters across these two states.

The primary objective of this project is to reduce losses for DISCOMs and to empower consumers by introducing smart prepaid meters, enabling them to have better control over their energy consumption. Through the implementation of these smart meters, consumers will have real-time access to their energy usage data, allowing them to monitor and manage their consumption patterns effectively.

This will result in a more informed decision-making process for consumers, fostering a culture of energy conservation and responsible electricity usage. Additionally, consumers will have the flexibility to recharge their meter as per their convenience, avoiding the inconvenience of monthly visits from meter readers or the hassle of bill payment. This will not only enhance customer satisfaction but also streamline the overall billing process.

"We are incredibly proud to have been entrusted with these transformative projects," said Yashraj Khaitan, CEO, Polaris Smart Metering. "Our smart metering solutions will empower consumers with actionable insights into their energy consumption, while simultaneously delivering substantial benefits to the state governments in terms of improved grid efficiency, reduced pilferage, and improved environmental sustainability. We extend our heartfelt gratitude to MVVNL for recognizing the potential of innovative technology in shaping the future of grid management. The win in Uttar Pradesh and the LOAs in West Bengal and Manipur underscore Polaris’s commitment towards digitizing and transforming India’s electricity grid and marks a significant stride towards a smarter and more sustainable energy future for our country.”

Bhawani Singh Khangarot, MD, MVVNL commented, "Smart metering technology is integral to modernizing our energy infrastructure. This strategic partnership with Polaris aligns with our vision for reliable, efficient, and sustainable services. Smart metering addresses grid losses, optimizes load management, and contributes to environmental conservation. We are confident in this collaboration's positive impact on our network's efficiency and sustainability, reflecting our commitment to technological advancement for the benefit of our constituents and the state."

To tackle power theft, Polaris has internationally patented algorithms to enable DISCOMs to detect and address power theft effectively. In addition, Polaris’s technology will also enable DISCOMs to implement advanced demand-response policies for maximum integration of renewable energy sources in their power purchase portfolios. In addition to this, Polaris ensures a high level of cyber security by encrypting its entire communication stack, and employing multiple layers of encryption for data privacy. This includes identity and access management, authorization, and a user privilege system.

Polaris Smart Metering is committed to partnering with state governments, utilities, and consumers to ensure a successful implementation of the smart prepaid metering system. Prior to this, Polaris has won multiple smart metering contracts, including contracts in Ladakh and Bihar for installing over 1,00,000 smart meters for a value of more than INR 118 Crores cumulatively.

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Madhyanchal Vidyut Vitran Nigam Limited