Bosch Acquires 10% Stake in GMR Group’s Smart Metering Projects
Bangalore, July 9, 2024 – Bosch Global Software Technologies (BGSW) and GMR Group have entered a Special Purpose Vehicles (SPVs) arrangement to implement the smart metering program for the cities of Agra, Varanasi, and Prayagraj in India. GMR Group combines its expertise in infrastructure management with BGSW’s value in designing and building state-of-the-art smart metering system architecture.
BGSW has executed definitive agreements with GMR Group whereby BGSW will be investing 10% stake and GMR Group will be holding 90% stake in these SPVs.
The smart metering program envisions the deployment of approximately 7.5 million smart meters across the selected cities. The state owned DISCOMS of Purvanchal Vidyut Vitran Nigam Limited (“PVVNL”) and Dakshinanchal Vidyut Vitran Nigam Limited (“DVVNL”) shall be clients of the SPVs under the program.
PVVNL will implement an estimated 5 million smart meters and DVVNL will implement an estimated 2.5 million smart meters. BGSW with its expertise in IoT and connected products will create a robust system architecture that connects these smart meters to cloud and IT infrastructure. Overall, the program intends to mordernise the electricity distribution infrastructure in these key cities and bring in state-of-the-art technology and efficiency in the DISCOM sector.
Speaking on the collaboration, Kaushik Sarkar, Senior Vice President and CFO, Bosch Global Software Technologies said: “This collaborative initiative marks the convergence of GMR Group’s robust infrastructure capabilities with SDS’s cutting-edge IoT and digital capabilities. Together, we aspire to redefine the landscape of electricity distribution in Agra, Varanasi, and Prayagraj, by introducing state-of-the-art solutions that will significantly elevate the overall efficiency of the DISCOMS.”