EESL and NIIF form JV for smart meter implementation

Energy Efficiency Services Limited (EESL) and the National Investment and Infrastructure Fund (NIIF) have formed a joint venture (JV), IntelliSmart Infrastructure Private Limited, to finance and implement smart metering solutions in distribution companies. Set up by the government in February 2015, the NIIF is India’s first sovereign wealth fund. With a focus on expediting the deployment of smart meters across the country, IntelliSmart plans to operate on a large scale by leveraging the expertise and capital of both the shareholders. In a separate development, EESL has crossed the milestone of 10 million smart LED street lights under the Street Lighting National Programme (SLNP). By March 2020, the SLNP aims to replace 13.4 million conventional street lights with smart LEDs. In the next phase, EESL intends to implement the SLNP in rural areas with an investment of Rs 80 billion by 2024. It is expected that over 30 million LED street lights would be retrofitted/installed by EESL in rural areas.