The power ministry has reportedly begun the process to set up a Rs 20 billion joint venture (JV) for providing a common backend infrastructure facility (CBIF) to discoms for faster roll-out of smart electricity meters in the country.
The joint venture would have four promoters, NTPC Limited, REC Limited, Power Grid Corporation of India Limited (Powergrid) and Power Finance Corporation (PFC). The boards of PFC and REC have approved an equity investment of Rs 1.50 billion each in the JV for the CBIF. The boards of NTPC and Powegrid are yet to approve the equity investments of Rs 1.50 billion each in the JV. There would be an equity investment of Rs 6 billion by the four promoters and the debt component would be of Rs 14 billion CBIF will simplify smart meter rollout for discoms by offering a plug and play architecture with standardised, pre-configured, pre-integrated, scalable back-end infra for rollout of smart meters. The CBIF will also enable centralised MIS or reporting of metering data. The facility will be offered to discoms on a software or solution as a service approach and charge only usage fees.