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Adani Energy Solutions has acquired a 49 per cent stake in UAE-based Esyasoft Holdings’ smart metering solutions arm to form a joint venture for Indian and other markets. Adani Energy acquired the stake through its subsidiary Adani Transmission Step-Four.
Esyasoft is backed by Abu Dhabi-based International Holding Company (IHC).
The smart metering solutions arm, called Adani Esyasoft Smart Solutions, will not only serve Adani Energy’s current and future needs but also bid for, and execute Indian and global orders, the company said in a release.
“Besides giving us a strong execution edge locally, the JV will open up new vistas in international geographies where the smart metering concept is gaining traction and will aggressively pursue such opportunities,” said Kandarp Patel, CEO, Adani Energy.
Esyasoft is a leading smart metering platform and solutions provider, with over 25 million consumers in over 10 countries, including major Indian discoms, Scottish Gas, and UAE-based utilities like FEWA, DEWA, SEWA and ADDC. Its cloud- and IoT-based energy management solutions cater to the energy automation sector. Its solutions for smart utilities include meter data management system, headend system, peak load management, energy audit, metering, billing and collection, mobility solutions, big data analytics in load forecasting, theft analysis, consumer behaviour analysis, and GIS.
“With this partnership, we will add an additional 30 million end points. Additionally, Esyasoft also has solutions for renewable energy, energy efficiency, EV charging, analytics and AI tools, which we are confident of offering to other Adani group companies,” said Ajay Bhatia, Group CEO, Sirius International Holding, which is Esyasoft’s major shareholder and a subsidiary of IHC.
Adani Energy has an order book of about 2 crore smart meters from various state discoms and more are likely to be added. The company’s distribution arm Adani Electricity Mumbai has already installed a majority of the 7 lakh smart meters planned in phase 1.
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