NEW DELHI, Apr 16: Polaris Smart Metering on Thursday said it has secured Rs 710 crore in financing for its arm Hooghly Smart Metering from British International Investment(BII), UK’s development finance institution and impact investor.
The financing will support the deployment of over 2.2 million smart meters in West Bengal, further strengthening Polaris’ Advanced Metering Infrastructure (AMI) footprint and contributing to India’s broader energy transition agenda, a company statement said.
Polaris is a homegrown, integrated smart metering solutions provider delivering end-to-end AMI capabilities across meter manufacturing, deployment, communications infrastructure, and software platforms.
Yashraj Khaitan, Founder & CEO, Polaris, said, “This financing marks an important milestone in Polaris’ journey to help build a smarter, more transparent, and future-ready power distribution ecosystem for India.”
Shilpa Kumar, Managing Director and Head of India, British International Investment, said, “We are pleased to support Polaris Smart Metering as India strengthens its power distribution network.”
Polaris Smart Metering, formerly known as Gram Power, is a pioneering energy technology company committed to making power affordable, accessible, and intelligent. (PTI)
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