HPL Electric & Power has reported the winning of a major order for the supply of smart meters.
In a release, HPL Electric & Power (HPL) said that it has successfully acquired an order valued at Rs.903 crore for the supply of smart meters.
This has taken HPL’s outstanding order book to over Rs.2,500 crore, as of date, the release said, without divulging any further details on the order.
“These significant smart meter orders underscore HPL Electric & Power Ltd’s commitment to innovation and reinforces its role in India’s mass smart-meter adoption. The company’s dedication to research and development enables the delivery of technologically complex solutions that cater specifically to the Indian market,” the release noted.
Also read: HPL Electric & Power: Order Book Exceeds Rs.1,500 Crore
At the forefront
“We are delighted to secure these additional prestigious smart meter orders, achieving another milestone in our efforts to be at the forefront of India’s smart-meter implementation,” noted Gautam Seth, Joint Managing Director & CFO, HPL Electric & Power Ltd.
“Our smart meters can significantly enhance demand-side energy efficiency by providing real-time data on energy consumption to both consumers and energy providers. They enable consumers to monitor and adjust their usage habits to off-peak hours, reducing strain on the grid, and allow for the implementation of dynamic pricing strategies that can incentivize energy conservation,” Seth added.
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