Apraava Energy Secures $92 Million from BII and Standard Chartered to Install Smart Meters

Apraava Energy has strengthened its smart metering ambitions by securing ₹8009 million(~$92 million) in fresh funding from British International Investment and Standard Chartered, as per the press release. 

The financing supports its expanding Advanced Metering Infrastructure projects across multiple states. 

Funding Boost to Expand Smart Meter Rollout 

Apraava Energy finalised 2 financing agreements, ₹4005 million ($46 million) from British International Investment and ₹4004 million ($46 million) from Standard Chartered. The funds will accelerate the deployment of over 2 million smart meters and contribute to India's broader goal of installing 250 million meters by 2026.  

Smart meters are expected to enhance grid efficiency, support renewable integration, and reduce technical and commercial losses while improving the customer experience. Apraava already has a target of installing around 7.8 million smart meters across states under its existing projects. 

Leadership Highlights the Strategic Importance 

Samir Ashta, Director – Finance & CFO, said, “With this financing, we’re scaling up our smart metering efforts.” He noted the company’s progress, stating they had achieved “India’s first RDSS project operational go-live in Assam and the country’s fastest go-live in Himachal Pradesh.”  

British International Investment’s Shilpa Kumar said, “Smart metering is an emerging yet critical part of the business model,” reinforcing its importance in India’s sustainable power aspirations.  

Standard Chartered’s Prasad Hegde remarked, “We are delighted to support Apraava Energy as they accelerate their contribution to India’s energy transition journey.” 

Apraava’s Growing Role in India’s Energy Transition 

Founded in 2002, Apraava has built a diverse portfolio with ~3.4 GW of installed capacity across wind, solar, thermal and transmission assets. The company is constructing multiple greenfield transmission lines, a 300 MW wind project, and 2 solar projects totalling 550 MW.  

Its push into Advanced Metering Infrastructure represents a major shift toward customer-focused, technology-driven energy solutions. With operations across 13 states, Apraava continues to invest in low-carbon growth areas and strengthen the reliability and efficiency of India’s power distribution landscape. 

Read More: Websol Energy Signs MoU with Linton to Explore Ingot and Wafer Manufacturing in India! 

Conclusion 

The combined financing from BII and Standard Chartered marks a pivotal moment for Apraava Energy, enabling rapid scale-up of smart metering and advancing India’s evolving power infrastructure. . 

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