Polaris bags smart metering project worth Rs 2,246 cr

New Delhi: Energy solutions provider Polaris on Wednesday said it has secured a contract worth Rs 2,246 crore to install 2.2 million smart meters in West Bengal.

"With this order, Polaris has successfully closed orders over Rs 7,700 crore across the geographies of Uttar Pradesh, West Bengal, Manipur, Bihar and Ladakh," the company said in a statement. The new order worth Rs 2,246 crore in West Bengal is for installation of 2.2 million smart meters in the State. 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 West Bengal, Polaris has also secured a contract of Rs 206 crore for smart meter installation in Manipur in the region of Imphal to install over 1.6 lakh smart meters. In January, the company had secured Rs 5,200 crore contract for smart meter installation in Uttar Pradesh to install over 5.1 million smart meters.

The primary objective of these projects 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. Jaipur-based Polaris is into manufacturing and implementation of smart metering projects.