Genus Power bags Rs 1,026cr smart prepaid meter installation contract

Genus Power Infrastructures Limited, a leader in the electricity metering solutions industry in India, announced that its wholly owned subsidiary has received a Letter of Award (LOA) worth Rs. 1,026.31 crore (net of taxes). This substantial contract is for the appointment of Advanced Metering Infrastructure Service Providers (AMISPs), encompassing the design, supply, installation, and commissioning of approximately one million Smart Prepaid Meters, system meters including Distribution Transformer (DT) Meters, and corresponding energy accounting on the Design, Build, Finance, Operate, Own, Transfer (DBFOOT) basis.

Jitendra Kumar Agarwal, Joint Managing Director of Genus Power Infrastructures Ltd., expressed his pride in the company’s achievements. “Since July 2023, our company has secured a total of seven orders, amounting to about Rs. 16,185 crore (net of taxes). This recent order elevates our total order book to over Rs. 20,000 crore (net of taxes). Our consistent success reflects the trust our clients place in our capabilities and the superior quality of our offerings,” he said. Agarwal reaffirmed the company’s commitment to maintaining the highest standards in quality, innovation, and customer satisfaction.

Established in 1995, Genus Power Infrastructures Ltd. holds approximately 27% of the market share in India’s electricity metering solutions industry. As a market leader in various types of meters, Genus Power has developed innovative ‘smart metering solutions’ with an in-house R&D center. The company’s engineering, construction, and contracts (ECC) division complements its existing meters business. With manufacturing plants in Jaipur, Haridwar, and Guwahati, the company boasts an installed capacity of over 10 million meters. Its key customers include major State Electricity Boards (SEBs) and private utilities.

This LOA signifies a pivotal step for Genus Power Infrastructures in the rapidly evolving smart metering sector. The company’s expertise in developing and deploying advanced metering solutions positions it as a key contributor to the modernization of India’s energy infrastructure. With this latest achievement, Genus Power continues to play a crucial role in enhancing efficiency and sustainability within the Indian energy sector.