New Delhi: On Tuesday, HPL Electric and Power Ltd. (HPL), a supplier of electrical products and services, reported the successful completion of the purchase of intelligent metre orders totalling Rs 903 crore (including tax). According to the firm, these orders would further strengthen HPL’s total order book, which now stands at Rs 2250 crore. “These significant smart meter orders underscore HPL Electric & Power Ltd’s commitment to innovation and reinforce its role in India’s mass smart-meter adoption,” the company said in a regulatory filing.
“We are delighted to secure these additional prestigious smart meter orders, achieving another milestone in our efforts to be at the forefront of India’s smart-meter implementation,” said Gautam Seth, Joint Managing Director & CFO, HPL Electric & Power Ltd.
“Our smart meters can significantly enhance demand-side energy efficiency by providing real-time data on energy consumption to both consumers and energy providers. They enable consumers to monitor and adjust their usage habits to off-peak hours, reducing strain on the grid, and allow for the implementation of dynamic pricing strategies that can incentivize energy conservation,” he added.
