In a big push to make India Aatmanirbhar in smart meter, HPL Electric & Power has established a new state of the art R&D center located at Gurugram in Haryana.
The new R&D center for smart meters aims to incorporate the recent advancements in smart technologies and materials for the development of new generations of smart metering products.
HPL Electric & Power is one of India’s leading electrical equipment manufacturers, with a sizable presence in the meters and smart meters segment. With this investment, HPL aims to widen its smart meter portfolio and further strengthen its market penetration domestically as well as internationally.
Gautam Seth, Joint Managing Director, HPL Electric & Power said, “We are very much focused on enhancing our smart meter technological base and become the market leader in the segment. With an aim to make technology a key pillar for future growth, we are investing in R&D to develop next generation smart technology to meet the future requirements with best-in-class metering solutions.”
Over 200 engineers will be working at the R&D center, conducting advanced research in developing solutions for smart meters technology, other metering solutions and communication technology. With a solution-based approach, HPL is aiming to bring in advanced IoT and AI-enabled smart solutions and products for the Indian and international markets.
“The company is bullish about the opportunities in the smart metering segment. We are expecting large-scale requirements for smart metering solutions in the coming years and we are fully capable and ready to meet the requirements of the industry with our best-in-class metering solutions. Our manufacturing facilities are adequately equipped to undertake larger production to meet the targets of the Government to install 25 million smart meters in the country within the next three years,” added Seth.
In the Union Budget of 2020, the government of India had urged all the states and UTs to replace the conventional electricity meters into prepaid smart meters and plans to install 25 million smart meters in the country within next three years. The government has allocated Rs. 22,000 crore in the Union Budget for the development of infrastructure, enhancing electric grid across the country, implementation of smart meters, enlargement of green mode of electric generation, etc.
Smart meters will help the utilities to enhance their management of billings and collections by contact less ecosystem, thereby helping them reduce losses and enhancing consumer experience. With the enhancement in collection of consumer data, the power distribution utilities will also be able to better forecast the demand and supply requirement and manage their power purchases better.