Adani Transmission Step-Four Limited (ATSFL), a subsidiary of Adani Energy Solutions Limited (AESL), announced a joint venture with UAE-based Esyasoft Holdings (EHL) to implement smart metering projects in India and globally. Under the partnership, ATSFL will hold a 49% stake, with EHL holding 51%. This collaboration, strengthening ties between Adani and Abu Dhabi’s International Holding Company (IHC), reflects the latter’s substantial ownership in Esyasoft through Sirius International Holdings, a subsidiary.
The move aligns with India’s growing smart metering market, expected to cover around 25 crore premises, with tenders for 8 crore meters yet to be released, indicating significant future growth opportunities. The joint venture aims to facilitate licensing by EHL of intellectual property rights (IPRs) related to software products/solutions for smart meters and other industrial applications. The agreement also outlines plans for further product/solution development by the joint venture company of ATSFL and EHL.
Kandarp Patel, CEO of AESL, expressed satisfaction with the partnership, emphasizing its potential to provide integrated solutions for the seamless national rollout of the smart metering business. The joint venture is poised to enhance execution capabilities locally and explore international opportunities in regions adopting smart metering concepts.
AESL’s existing order book comprises approximately 2 crore smart meters from various distribution companies, including BEST Mumbai, Maharashtra discom, Uttarakhand, Andhra Pradesh, Bihar, and Assam. The collaboration with Esyasoft, a global leader in smart metering platforms and solutions, is expected to add 30 million endpoints to the portfolio. Esyasoft, with over 25 million consumer endpoints in 10+ countries, also offers solutions in renewable energy, energy efficiency, EV charging, analytics, and AI tools.
Ajay Bhatia, Group CEO of Sirius International Holding (major shareholder in Esyasoft), highlighted the comprehensive solutions Esyasoft brings to the partnership. The collaboration intends to extend these solutions to other Adani group companies.
In summary, the joint venture positions Adani and Esyasoft to capitalize on the evolving smart metering landscape, providing critical solutions nationally and exploring opportunities in the global market. The collaboration leverages the strengths of both entities, with an emphasis on innovation, technology, and sustainable energy solutions