Genus Power lands Rs.2,200-crore smart metering order under RDSS
- September 1, 2023
Genus Power Infrastructures Ltd has reported the winning of a smart metering order under the Revamped Distribution Sector Scheme (RDSS).
In a stock exchange notification, Genus Power said that its wholly-owned subsidiary has received a letter of award worth Rs.2,247.37 crore (net of taxes) for its appointment as Advanced Metering Infrastructure Service Provider (AMISP) under RDSS.
The scope of works covers with supply, installation and commissioning with FMS (facility management services) of 24.18 lakh smart prepaid meters, system meters including OT (overhead transformer) meters with corresponding energy accounting under DBFOOT model (HYBRID Model, CAPEX Plus OPEX).
No details such as name of the wholly-owned subsidiary, entity placing the order or the area of smart metering deployment were provided in the release.
Another major order
Commenting on the order, Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures Ltd, said, “We are delighted to announce the win of yet another major order for smart meters. This is the third such order in the last two months, and it is a testament to the trust that our customers have in our capabilities. Our total order book now stands at around Rs. 11,000 crore (net of taxes) – which signifies a landmark for our organization, instilling us with a resolute belief that it will act as a driving force for exponential growth in our business operations within the Indian market. It further strengthens our position as the leading smart metering solutions provider in India.”
Third major order
This order, according to information available with T&D India, is the third significant AMISP order in recent months, won by Genus Power. On August 8, 2023, T&D India reported the company’s landing a Rs.2,210-crore order, preceded by a Rs.2,208-crore mandate, reported on July 3, 2023.
Also read: Genus Power Sees Significant Rise In Order Book
Investment platform
Genus Power has already announced the creation of a $2-billion investment platform to finance its smart metering projects. Besides, Genus has already stated that it has formed several wholly-owned project-specific subsidiaries for its AMISP mandates. (Read more)
