Adani Electricity to invest Rs 5 billion for smart meter installations in Mumbai

Adani Electricity Mumbai Limited (AEML) is investing Rs 5 billion to install smart meters for 700,000 consumers in Mumbai by the end of 2023.

Reportedly, the Rs 5 billion capital expenditure is being done through internal accruals and the company has no plans for any equity infusion. The 700,000 smart meters will be installed in the first phase and the remaining 2 million consumers will get smart meters by the end of 2024-25. Notably, AEML has already installed 110,000 of such smart meters, and the remaining 590,000 will be done by 2023-end to finish the first phase.

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