HPL Electric and Power bags Empanelment Certificate from Power Ministry

29 Aug 2022 , 09:18 AM

HPL Electric and Power Ltd announced that it has received the “Empanelment Certificate” from the Power Ministry through its arm, Rural Electric Corporation (REC).

HPL Electric is approved as a bidder through tender participation for the appointment of Advanced Metering Infrastructure (AMI) Service Provider for Smart Prepaid Metering in India on a DBFOOT basis (Design, Build, Finance, Operate and Transfer) under the RDSS (Revamped Distribution Sector Reform Scheme).

The Company is one of the few participants to receive the Empanelment Certificate after being subjected to vigorous testing carried out at the Central Power Research Institute (CPRI) laboratory. After strong, healthy positive results, the CPRI has approved HPL’s end-to-end Prepaid Smart Metering solution.

Commenting on this achievement, Gautam Seth, Joint Managing Director said, “HPL Electric has been a pioneer and is among the few early companies that passed the rigorous test conducted by CPRI (Central Power Research Institute) and receive the empanelment certification.

This certificate empanels us to participate in the massive opportunity to take a slice of the 25 crore smart-meter market, expected to last for more than 10 years. We are focused on enhancing our market share and be amongst the leaders in this segment.”

At around 9:18 AM, HPL Electric & Power Ltd is currently trading at Rs76.15 per share down by Rs1.3 or 1.68% from its previous closing of Rs77.45 per share on the BSE.

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