Adani Energy Arm to Join Hands with Esyasoft for Smart Metering Biz By CIOTechOutlook Team

Adani Energy Arm to Join Hands with Esyasoft for Smart Metering Biz

CIOTechOutlook Team | Thursday, 28 December 2023, 09:25 IST

Adani Energy Solutions announced the formation of a joint venture with the UAE-based Esyasoft Holdings (EHL) to conduct smart metering projects in India and around the world.

In a regulatory filing, the company said, ATSFL and EHL will hold a 49% and 51% shareholding respectively in the proposed joint venture, with equal participation in the company's board of directors, as per economic times.

The agreement was reached to allow, among other things, EHL to license intellectual property rights to software products and solutions for smart meters and other industrial applications, as well as further development of such products and solutions by an ATSFL-EHL joint venture company.

Separately, AESL announced that it has acquired a letter of intent from PFC Consulting to acquire Halvad Transmission. PFC Consulting has established Halvad Transmission, a special purpose business, to evacuate 7GW of renewable energy (RE) from the Khavda RE facility in Gujarat.

For the next 35 years, AESL will spend 3,000 crore to build, own, operate, and maintain the 301 km (656 circuit kilometers or ckm) transmission line. The project was secured through tariff-based competitive bidding, and it will be completed within the next 24 months, according to the company.

With a green energy-producing capacity of 30,000 MW, Khavda RE park is considered to be the world's largest RE park.

The Halvad transmission line, which is part of the national grid, will assist in the evacuation of 7GW of RE by linking Khavda to Halvad (also in Gujarat).

"The 7GW Khavda project will go a long way in making additional renewable energy available for the consumers and we will use the latest technology to commission this project with minimal environmental impact," said AESL managing director Anil Sardana.