Polaris, a technology company, announced on Wednesday that it has secured contracts worth ₹2,452 crore for the installation of smart meters in West Bengal and Manipur. The company has been awarded a ₹2,246 crore contract to install 2.2 million smart meters in West Bengal and another contract of ₹206 crore for smart meter installation in Manipur, specifically in the region of Imphal, to install over 1.6 lakh smart meters.
The objective of these projects is to reduce losses for Discoms (Distribution Companies) and empower consumers by introducing smart prepaid meters, Polaris stated. Under the agreements, Polaris Smart Metering will supply, commission, install, and maintain smart meters for consumers and system metering across these regions for the next 10 years.
Equipped with state-of-the-art technology, these smart meters will enable prepaid billing, real-time energy monitoring, accurate metering, and improved grid management capabilities. The contracts come under a Design-Build-Finance-Operate-Own-Transfer (DBFOOT) agreement.
Polaris emphasized that the primary goal of the project is to reduce losses for Discoms while empowering consumers to have better control over their energy consumption. Real-time access to energy usage data will allow consumers to monitor and manage their consumption patterns effectively, fostering a culture of energy conservation and responsible electricity usage.
Moreover, the flexibility offered by these smart meters will streamline the overall billing process, enhancing customer satisfaction. Polaris also highlighted its patented algorithms to tackle power theft effectively and its technology to implement advanced demand-response policies for integrating renewable energy sources.
With this latest contract, Polaris has now successfully closed orders of more than ₹7,700 crore across various states including Uttar Pradesh, West Bengal, Manipur, Bihar, and Ladakh. The company has won multiple smart metering contracts in these regions, aiming to herald a transformation in the energy landscape benefiting consumers, the environment, and the overall sustainability of the country.
Polaris is engaged in the manufacturing, supply, installation, integration, testing, and commissioning of Advanced Metering Infrastructure (AMI) Projects in India. These initiatives are poised to usher in a significant transformation in the energy landscape, bringing benefits to consumers, the environment, and bolstering the overall sustainability of the country.
