GMR Power and Urban Infra Limited’s share price was up by 10.09 per cent on Friday morning on BSE following the announcement that it had secured a Letter of Intent (LOI) from Purvanchal Vidyut Vitran Nigam Limited and Dakshinanchal Vidyut Vitran Nigam Limited for the implementation of a smart metering project in Uttar Pradesh.
Under this project, GSEDPL will be responsible for the installation, integration, and maintenance of 75.69 lakh smart meters in the designated regions. The project is set to span over a duration of 10 years.
The Advanced Metering Infrastructure (AMI) Project will involve the supply, installation, integration, commissioning, and operation & maintenance of smart meters, supported by advanced technology and software solutions for automated system management. The project will be executed under the Revamped Distribution Sector Scheme (RDSS) and is anticipated to significantly reduce AT&C losses in the designated area while enhancing the operational and collection efficiency of UP Discoms.