In a big push to make India ‘Atmanirbhar’ in Smart Meter technology, HPL Electric & Power Ltd., established a new state of the art R&D center. 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’s R&D center is located, at the HPL’s manufacturing facility at Gurugram, Haryana. With this investment in developing the next generation of smart meter technology, 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 Ltd., said: “We are very much focused on enhancing our smart meter technological base and become the market leader in the segment. 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.
Seth added: “The Company is bullish about the opportunities in the smart metering segment. We are expecting large-scale requirement 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.”
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 22000 Cr in the Union Budget for the development of infrastructure, enhancing electric grid across the country, implementation of smart meters, enlargement of the green mode of electric generation, etc.