Polaris Secures Landmark Rs 710 Crore Financing for Smart Meter Rollout

Polaris Smart Metering, a leading energy technology company, has obtained Rs 710 crore financing from British International Investment to expand its smart meter deployment in West Bengal. This move aligns with India's energy transition goals by enhancing the Advanced Metering Infrastructure footprint across the region.

Polaris Smart Metering announced on Thursday that it has secured Rs 710 crore in financing for its subsidiary Hooghly Smart Metering from British International Investment, the UK's development finance institution and impact investor.

The investment is set to facilitate the deployment of over 2.2 million smart meters in West Bengal, enhancing the company's Advanced Metering Infrastructure (AMI) and supporting India's strategic energy transition initiatives.

Founded by Yashraj Khaitan, Polaris aims to revolutionize India's power distribution with advanced technological solutions. British International Investment's support for Polaris underscores a mutual commitment to building a robust and transparent energy ecosystem.

(With inputs from agencies.)