NEW DELHI, DEC 27     :     Adani group transmission and distribution firm Adani Energy Solutions Ltd (AESL) on Wednesday said that it has formed a joint venture (JV) with UAE-based Esyasoft Holdings for implementing smart metering projects in India and other countries.

Through its wholly owned subsidiary, Adani Transmission Step-Four Ltd, AESL has acquired a 49% stake in Esyasoft Holdings Ltd’s smart metering solutions arm. The entity has been renamed Adani Esyasoft Smart Solutions Ltd.

“The transaction deepens the relationship between Adani and Abu Dhabi’s International Holding Company (IHC), as IHC is a major shareholder in Esyasoft through its subsidiary Sirius International Holdings,” Adani said in a media statement.

Besides serving AESL’s current and future needs, the JV will also bid for and execute Indian and global orders, it further said.

“Besides giving us a strong execution edge locally, the JV will open up new vistas in international geographies where the smart metering concept is gaining traction and will aggressively pursue such opportunities,” said Kandarp Patel, CEO, AESL.

AESL has an order book of about 2 crore smart meters from discoms like BEST Mumbai (10.8 lakh), Maharashtra discom (1.15 crore), Uttarakhand (6.5 lakh), Andhra Pradesh (41.2 lakh), Bihar (28.4 lakh) and Assam (7.8 lakh).(UNI)