9 months ago
Apraava Energy Secures $92M for Smart Meters
Apraava Energy, a company that helps with electricity, got $92 million from two big UK companies, BII and Standard Chartered.
This money will help Apraava put in smart meters in homes and businesses across India.
Smart meters help make the electricity system better by reducing waste and making it easier to use clean energy.
The Indian government has a big plan to put in 250 million smart meters by 2026, and Apraava is helping with that.
The smart meters will make the electricity grid more efficient and reliable, which is good for the environment.
Apraava Energy secured $92 million from BII and Standard Chartered for smart meter expansion.
The funding will support the installation of 2 million smart meters in homes and businesses.
Smart meters aim to improve grid efficiency, reduce losses, and integrate renewable energy.
The Indian government's RDSS scheme targets 250 million smart meters by 2026.
Apraava has a track record of successful smart meter projects in Assam and Himachal Pradesh.
- Who
- Apraava Energy, British International Investment (BII), Standard Chartered
- What
- Secured $92 million for smart meter expansion
- Where
- India
- When
- December 3, 2025
- Why
- To support India's energy transition and grid efficiency
Key facts
- Amount Raised
- ₹800.9 crore ($92 million)
- Investors
- British International Investment (BII) and Standard Chartered
- Purpose
- Advanced Metering Infrastructure (AMI) expansion
- Target
- Install 2 million smart meters
- Government Scheme
- Revamped Distribution Sector Scheme (RDSS)
- Government Target
- 250 million smart meters by 2026
- Apraava's Target
- 7.8 million smart meters
Quotes
Samir Ashta
Director Finance & CFO at Apraava Energy
“With this financing, we’re scaling up our smart metering efforts. We are proud of our track record in AMI, including achieving India’s first RDSS project operational go-live in Assam and the country’s fastest go-live in Himachal Pradesh.”
thehindubusinessline.com
Shilpa Kumar
Managing Director and Head of India at British International Investment
“As the UK’s development finance institution, we play a catalytic role in accelerating this transition by partnering with innovative companies like Apraava and financiers like Standard Chartered. Our support for the company will drive improvements in grid efficiency, enhance service quality, and contribute to reductions in greenhouse gas emissions.”
thehindubusinessline.com
Prasad Hegde
Regional Head for Infrastructure & Development Finance Group India and South Asia at Standard Chartered
“India is a key sustainable finance market for Standard Chartered, and we are committed to supporting the country’s ambition to reduce overall carbon emissions and expand sustainable practices.”
thehindubusinessline.com
Sources
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