Adani Energy Solutions has announced, on Wednesday, that its subsidiary, Adani Transmission Step-Four (ATSFL), is set to establish a partnership with Esyasoft Holdings (EHL) from the UAE. The collaboration aims to execute smart metering initiatives both within India and internationally.
Adani Energy Solutions (AESL) specializes in innovative energy solutions, focusing on smart metering technologies. With orders for millions of smart meters from major Indian discoms, AESL is a key player in India’s burgeoning smart meter market, aiming to cater to millions of premises. On the other hand, Esyasoft Holdings (EHL), based in the UAE, operates as a diversified conglomerate with interests spanning technology, energy, and infrastructure sectors. EHL maintains a strong focus on sustainable solutions, striving to pioneer advancements in various industries across the Middle East and beyond. Adani Transmission Step-Four Limited, a subsidiary of AESL, has completed the acquisition of a 49 percent share in the smart metering solutions division of Esyasoft Holdings Ltd. This move has led to the renaming of the entity as Adani Esyasoft Smart Solutions Ltd. This transaction further solidifies the connection between Adani and Abu Dhabi’s International Holding Company (IHC), as IHC holds a significant stake in Esyasoft through its subsidiary Sirius International Holdings.
In addition to meeting AESL’s present and future requirements, the joint venture aims to actively pursue and fulfill both domestic and international contracts, vying for projects in India and across the globe. With a team of approximately 100 skilled professionals located in India, the UAE, the U.K., and KSA, they cater to prominent entities such as major Indian discoms, Scottish Gas, as well as utilities in the UAE like FEWA, DEWA, SEWA, and ADDC. “AESL is very happy to partner with Esyasoft to create a niche joint venture to provide critical and integrated solutions for the seamless national rollout of our smart metering business. 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, AESL.
“We are happy to join hands with Adani Energy Solutions to offer our cutting-edge smart metering solutions for the Indian and global markets. Currently, Esyasoft is one of the leading smart metering platform and solutions providers globally, with 25+ million consumer end points serving in 10+ countries. 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 & AI tool, etc., which we are confident of offering to other Adani group companies,” said Ajay Bhatia, Group CEO, Sirius International Holding, Esyasoft’s major shareholder.
AESL has secured orders for approximately 20 million smart meters from various discoms such as BEST Mumbai (1.08 million), Maharashtra discom (11.5 million), Uttarakhand (650,000), Andhra Pradesh (4.12 million), Bihar (2.84 million), and Assam (780,000), with prospects for additional orders. Adani Electricity Mumbai, the company’s distribution wing, has already completed the installation of the majority of its planned 700,000 smart meters in phase 1. The market for smart metering in India is poised to serve around 250 million premises, with tenders for 80 million meters yet to be issued, indicating substantial growth prospects ahead.
