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JV firm to support discoms for smart meters
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SME Times News Bureau | 16 Sep, 2020
The Union government has initiated the process to set up a new joint
venture company with a capital outlay of Rs 2,000 crore to provide the
necessary infrastructural facilities to power distribution companies for
speedy installation of smart meters in the country.
The joint
venture will see the participation of four public sector undertakings --
NTPC Limited, Power Grid Corporation, REC Limited, and Power Finance
Corporation (PFC).
The boards of PFC and REC have already
approved an equity investment of Rs 150 crore each in the joint venture
for Common Backend Infrastructure Facility (CBIF).
The NTPC and
Power Grid will also put in an initial capital of Rs 150 crore each in
the JV that will also mobilise another Rs 1,400 crore debt, taking the
total available capital to Rs 2,000 crore.
Under the CBIF, the
JV will set up necessary infrastructural facilities that will allow
discoms to fast-track the rollout of smart meters as all the entities
would use standardised infrastructure under the automation scheme.
The
plug-and-play model with standardised back-end infrastructure will
allow discoms to just hook onto the system and start rolling smart
metering services in their respective areas of operation.
All the
data under smart metering will be captured by the back-end system that
will allow discoms to reduce maintenance costs on such a huge database
of smart services. The back-end system will also generate MIS report to
facilitate the discoms with metering data.
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