The meters are expected to empower consumers and utilities to optimise energy usage and contribute to a greener and more sustainable future
HPL Electric & Power Ltd. (HPL), a leading provider of electrical equipment and solutions, announces the successful acquisition of INR 903 crores (inclusive of Tax) smart meter orders. These orders further bolsters HPL's total pending pipeline order book, now totaling INR 2250+ crores as of the date of this release.
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.
HPL Electric & Power Ltd.'s smart meters excel in accuracy and in features such as real-time remote data monitoring. By empowering consumers and utilities to optimise energy usage, these smart meters contribute to a greener and more sustainable future. The Company's range of smart metering solutions, supported by an efficient after-sales service network, has garnered significant recognition within the industry. "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," said 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 incentivise energy conservation."
With this latest achievement, HPL Electric & Power Ltd. further solidifies its leadership position in the smart metering segment.