GMR Smart Electricity Distribution Pvt Ltd enters into arrangement with Bosch Global Software Technologies

GMR Smart Electricity Distribution Private Limited (GSEDPL), subsidiary of GMR Power and Urban Infra Limited had earlier announced regarding receipt of Letter of Award (LOA) from Purvanchal Vidyut Vitran Nigam Limited (PuVNL) and Dakshinanchal Vidyut Vitran Nigam Limited to install, integrate and maintain in aggregate 75.69 lakh smart meters.

GSEDPL subsequently incorporated three Special Purpose Vehicles (SPVs) for the implementation of the said Smart Metering Projects ('Projects').

GSEDPL has now entered into an arrangement with Bosch Global Software Technologies (BGSW), the technology partner for the Project, which is known for their value in designing and building state-of-the-art smart metering system architecture. 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.

As a part of the arrangement, BGSW has executed definitive agreements with GSEDPL whereby it will be investing in 10% equity capital in each of the three project SPVs, with GSEDPL holding the balance 90% of the equity capital of these SPVs.

Source : Equity Bulls

Keywords

GMRSmartElectricityDistribution GMRPowerandUrbanInfra LOA SPV SmartMeteringProject Arrangement BoschGlobalSoftwareTechnologies