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Polaris announced on Wednesday that it has been awarded a ?2,246 crore contract to install 2.2 million smart meters in West Bengal, as part of a major push toward modernizing the states electricity infrastructure. In addition, the company secured a ?206 crore contract to install over 1.6 lakh smart meters in Manipur, specifically in the Imphal region.
The smart meter rollout is intended to reduce Discom (Distribution Company) losses and empower consumers by introducing advanced smart prepaid meters, allowing for real-time energy monitoring and improved grid management capabilities. The contracts fall under a Design-Build-Finance-Operate-Own-Transfer (DBFOOT) agreement, with Polaris responsible for the supply, commissioning, installation, and maintenance of these smart meters for the next 10 years.
Polariss new smart meters will incorporate cutting-edge technology, allowing consumers to track their energy usage in real-time, opt for prepaid billing, and avoid the inconvenience of monthly meter readings and bill payments. This, in turn, is expected to encourage energy conservation and responsible electricity usage, as consumers gain more control over their consumption patterns.
Additionally, the companys patented algorithms aim to tackle power theft by enabling Discoms to detect and address unauthorized energy use effectively. Polariss technology also facilitates advanced demand-response strategies, crucial for the integration of renewable energy sources into power grids.
Regarding cyber security, Polaris emphasized its high standards, noting that its entire communication stack is encrypted with multiple layers for data privacy, along with robust identity and access management protocols. This ensures that customer information remains secure throughout the smart meter infrastructure.
With the latest contracts, Polaris has now closed orders exceeding ?7,700 crore across Uttar Pradesh, West Bengal, Manipur, Bihar, and Ladakh. The company previously won multiple contracts in Uttar Pradesh, Ladakh, and Bihar for installing over 5.2 million smart meters, valued at over ?5,381 crore cumulatively.
Polariss commitment to transforming Indias energy landscape through smart metering has the potential to benefit consumers, the environment, and the countrys overall sustainability. As the company continues to expand its footprint, it is poised to play a critical role in modernizing Indias electricity infrastructure. |
