 "smart metering projects")
In a significant development for India's growing smart metering market, HPL Electric and Power Ltd, on Wednesday, entered into a strategic partnership with Wirepas Oy.
"This exciting collaboration is poised to reshape the landscape of smart metering in India, marking a remarkable milestone in the industry, " said the company in an exchange filing.
India's smart metering market
The Indian smart metering market, with a staggering 250 million metering points, is on the cusp of exponential growth.
HPL Electric and Power Ltd's recent announcement of smart meter orders valued under World Bank Funding of Rs 416.84 crore in May 2023 underscores the immense potential of this market, said the company.
These orders align with state-led schemes like the Revamped Distribution Sector Scheme (RDSS), reflecting HPL's strategic focus on the smart meter sector and its ability to meet growing demand, it said.
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With an order book exceeding Rs 2,000 crore, HPL's commitment to high-volume manufacturing and utility solutions in India is unquestionable, it added.
Teppo Hemia, CEO of Wirepas, expressed his enthusiasm about the partnership, saying, "HPL is a well-known and highly valued brand among utility customers in India. We are excited to collaborate with HPL and assist them in offering a high-performance Radio Frequency (RF) Mesh solution tailored for the Indian market."
"The strategic partnership between HPL Electric and Power Ltd and Wirepas represents a pivotal moment in the evolution of India's smart metering industry", he said, adding, "Together, they are committed to delivering cutting-edge technology, unmatched reliability, and exceptional value to meet the evolving needs of the Indian power sector."
The Managing Director of HPL Electric, Rishi Seth, said, "I am glad that our collaboration with Wirepas will result in speedy and reliable deployment of the Government of India initiative of RDSS smart metering projects across India. With this future proven technology, HPL shall be self-reliant for all kinds of communication solutions for AMI. This is a pivotal step in Make in India drive by the Hon'ble Prime Minister of India."
Going forward, this technology can be scaled up to Gas & Water Metering also, apart from deploying in global emerging markets, he added.
