Skip to content Skip to Search
Skip navigation

IHC unit and India’s Adani launch smart meter business

Power Lines, Cable, Electric Transmission Tower REUTERS/Phil Noble
Adani Esyasoft Smart Solutions Limited will bid for and execute Indian and global orders

India’s Adani Energy Solutions has formed a joint venture with Abu Dhabi’s Esyasoft Holdings to expand its smart meter business in India and globally.

Adani Transmission Step-Four, a wholly owned subsidiary of Adani Energy, has acquired a 49 percent stake in Esyasoft Holdings’s smart metering solutions arm. Esyasoft holds the remaining 51 percent stake.

The renamed entity, Adani Esyasoft Smart Solutions, will bid for and execute Indian and global orders, Adani Energy said in a statement.

Esyasoft is a smart metering platform and solutions provider globally, with more than 25 million consumer end points serving in around a dozen countries.

“With this partnership, we will add an additional 30 million end points,” said Ajay Bhatia, the group CEO of Sirius International Holding, a subsidiary of Abu Dhabi’s International Holding Company, and Esyasoft’s major shareholder.

Esyasoft has solutions for renewable energy, energy efficiency, EV charging, analytics, and AI tools, “which we are confident of offering to other Adani group companies,” Bhatia said.

Order book

Adani Energy has an order book to install 20 million smart meters from several electricity distribution companies in India.

In October, IHC increased its stake in Adani Enterprises to more than five percent, estimated at ₹1.54 billion ($18.46 million).

Last year, the Abu Dhabi company invested $2 billion in three Adani Group firms, Adani Green Energy, Adani Energy Solutions, and Adani Enterprises.

In January it invested $400 million in Adani Enterprises’ public offer, which Adani Group’ head’s chair, Gautam Adani later called off.

IHC is part of a business conglomerate led by its chair, Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser and brother of President Sheikh Mohammed bin Zayed Al Nahyan.

Latest articles

The WakeCap system being used on a construction site

Aramco adopts heat-sensing construction helmets

Saudi Aramco is deploying advanced safety helmets equipped with heat stress sensors to protect workers on some of its construction sites, a critical concern in the Gulf region’s scorching climate. The helmets, developed by Dubai and Saudi Arabia-based construction tech startup WakeCap, utilise internet-of-things (IoT) technology that monitors worker attendance, location, and safety incidents in […]

Wind turbines above the village of Kotronas in the Peloponnese region. Greece's Terna Energy invests in wind, solar, hydroelectric and pumped storage projects

Masdar buys Greece’s biggest investor in renewables

The UAE’s state-owned clean energy company Masdar is to acquire a majority share in Terna Energy of Greece. The initial deal – one of the largest in the European renewables market and the biggest ever energy transaction on the Athens Stock Exchange – is for a 67 percent stake. The price of €20 ($21.45) per […]

The UAE attracted FDI inflows of $30.7 billion last year, a 35 percent year-on-year growth

UAE ranks second in global greenfield FDI projects

A 33 percent year-on-year surge in greenfield FDI projects in the UAE catapulted the Emirates up two places to the second spot after the US in 2023. There are now 1,323 greenfield FDI project announcements, state-run Wam news agency reported, citing the World Investment Report 2024. The UAE attracted FDI inflows of $30.7 billion last […]

People walk through the souk in Manama, Bahrain; FDI has been encouraged by the golden licence programme for investors

Bahrain attracts a record $6.8bn in foreign investment

Bahrain has set a new record by attracting $6.8 billion in foreign direct investment (FDI) in 2023. This is a 148 percent increase from the previous year’s $2.8 billion, according to the latest World Investment Report by the UN Conference on Trade and Development. Kuwait emerged as the top contributor, accounting for 36 percent of […]