Polaris secures $80 million for smart meter expansion
pre-market1 source ↓written by the desknot a recommendation
- approximately
- ₹710 cr
- from British International
- $80 million
- installation
- 2.2 million smart meters
Polaris Smart Metering Private Limited has raised ₹710 cr (approximately $80 million) from British International Investment (BII) to enhance smart meter deployment in West Bengal. This funding will facilitate the installation of over 2.2 million smart meters, bolstering the company’s presence in India’s digital energy infrastructure market.
The investment is pivotal as utilities transition to modern metering systems, aimed at improving efficiency and billing accuracy. This move may positively impact market sentiment in the energy sector.
Not investment advice. For informational purposes only.