State cancels smart metering tender awarded to Adani Group
The Hindu Bureau
CHENNAI 02.01.202
Tamil Nadu’s ambitious smart meter project to modernise electricity billing has been stalled, after the Tamil Nadu Power Distribution Corporation Limited (TNPDCL) cancelled the tender awarded to Adani Energy Solutions Limited, part of the Adani Group.
Confirming the cancellation of the tender for procuring smart meters, a senior official of Tangedco said that currently, Adani was the only company making smart meters in the country.
Officials of TNPDCL conducted negotiations with the company officials, and found that the price quoted was high.
The senior electricity official said that at a time when several States were planning to install 30 crore smart meters, with Tamil Nadu alone needing nearly 1.20 crore smart meters, it was not possible to stick to the delivery schedule.
Modernisation project
TNPDCL had planned to modernise electricity meters at a cost of ₹19,000 crore for nearly 1.20 crore customers in three phases. The smart meter project was to be implemented under the Revamped Distribution Sector Scheme (RDSS).
Adani Energy Solutions Limited has presence in various facets of the energy domain, including power transmission, distribution, smart metering, and cooling solutions.
As per an investor presentation made by Adani Energy Solutions, the company has a smart meter portfolio of 22.8 million, with a contract value of ₹27,200 crore. In an earnings call in October last year, the company said it expected the Tamil Nadu bid to be closed in a couple of months.
The tender cancellation comes in the wake of the indictment of Adani Group chairman Gautam Adani in New York over allegations of bribery and fraud. The group has denied the allegations.
The names of several State discoms, including that of Tamil Nadu, were included in the indictment.
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