Uttar Pradesh discom scraps Adani's Rs 5,400-crore smart meter bid

Uttar Pradesh power utility Madhyanchal Vidyut Vitran Nigam (MVVNL) has cancelled Adani Group’s bid for supply of around 7.5 million smart meters to the power distribution company (discom) worth nearly Rs 5,400 crore.

According to sources, Adani Group had submitted the lowest bid, yet the discom cancelled it citing “unavoidable reasons.”

UP discoms — including Madhyanchal, Dakshinanchal, Purvanchal and Paschimanchal — representing different regions, had floated tenders for the supply of more than 25 million smart meters. The combined bid value was estimated at Rs 25,000 crore.

Apart from Adani, GMR, L&T and Intellismart Infra were also in the fray