Polaris secures deals and deploys 5.1 mn smart meters in Uttar Pradesh

01 Feb 2024 CW Team

Polaris Smart Metering, a provider of advanced smart metering solutions, announced that it had secured two contracts valued at over Rs 52 billion for the implementation of smart prepaid metering systems in Uttar Pradesh.

It was revealed that the contracts had been awarded by Madhyanchal Vidyut Vitran Nigam (MVVNL) and involved the installation of more than 5.1 million smart meters in key clusters, including Lucknow and Ayodhya/Devipatan, over the next 27 months.

According to the terms of the agreement, Polaris would be responsible for supplying, installing, commissioning, and maintaining smart meters across the consumer base in these clusters for the next decade.

The smart meters, as per the plan, would enable prepaid billing, real-time energy monitoring, accurate metering, and improved grid management capabilities.

The comprehensive initiative was said to fall under a design-build-finance-operate-own-transfer agreement.

In addition to the Uttar Pradesh project, Polaris had also received letters of award from West Bengal and Manipur, totalling over Rs 24 billion. These contracts aimed to oversee the installation of more than 2.3 million smart meters across these two states.

The implementation of smart meters was highlighted as a means for Distribution Companies (DISCOMs) to reduce losses and empower consumers. The introduction of smart prepaid meters was intended to provide consumers with better control over their energy consumption.

It was emphasised that, through real-time access to energy usage data, consumers could effectively monitor and manage their consumption patterns.

Resources

04 Jun 2026

ULCCS Showcases Cooperative Model at UN Symposium

Uralungal Labour Contract Co-operative Society (ULCCS) showcased its community-led development model at the United Nations Headquarters in New York, where it participated as a panellist at the International Symposium on Cooperative Financial Institutions held on 28–29 May 2026.Jointly organised by the United Nations Department of Economic and Social Affairs (UN DESA), the International Cooperative Banking Association (ICBA), and the International Cooperative Alliance (ICA), the symposium was held under the theme ‘Fuelling Inclusive and Equitable Growth’ and brought together policymakers,..

Delhi Airport to Finalise 20-Year Master Plan

Delhi International Airport Ltd (DIAL) is finalising a 20-year master plan to guide long term infrastructure and operational development at Indira Gandhi International Airport, an official said. The operator expects the plan to reflect changes in the airline industry, shifts in the competitive landscape and evolving infrastructure requirements across terminals, airside and support services. The official said the document is likely to be ready in the next two to two-and-a-half months as the operator moves through planning stages. The plan will be prepared after consultations with airport users ..

Aadhar Housing Finance Targets Rs 500 bn AUM By FY29

Aadhar Housing Finance has set a target to raise its asset under management to Rs 500 billion (bn) by the end of FY29, aiming to achieve this over the next three financial years through an 18-20 per cent loan growth trajectory. The firm focuses on the low-income segment with a ticket size of less than Rs 1.5 million (mn) and has relied on that segment to drive expansion. The company closed FY26 with an AUM of Rs 305.71 bn, reflecting the expansion in recent years, and it reported a net profit rise of 22 per cent to Rs 11.08 bn. Management indicated that gross non-performing assets stood at 1.0..