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NewsVoir
New Delhi [India], February 26: EDF India today announced a strategic joint venture (JV) with Actis, a leading global investor in sustainable infrastructure. This collaboration aims to operate a dedicated platform company for Advanced Metering Infrastructure Service Provider (AMISP) concessions, reinforcing EDF India's and Actis's commitment to investing in the Indian power sector. Under this joint venture, EDF India and Actis will bring together their global expertise in energy solutions and infrastructure investments. The Indian government is actively driving the National Smart Metering Project under the Revamped Distribution Sector Scheme (RDSS). These advanced metering solutions are designed to enhance operational efficiencies, reduce aggregate technical and commercial losses, and bolster the financial sustainability of India's power distribution companies (DISCOMs). Commenting on the joint venture, Federico D'Amico, CEO of EDF India, stated, "We are excited to join hands with Actis to accelerate the deployment of smart metering infrastructure in India. This partnership underscores our commitment to supporting India's energy transition by leveraging our global expertise and innovation in digital grid technologies." Asanka Rodrigo, Partner at Actis, added, "This collaboration marks a significant step in our continued commitment to India's power sector. Smart metering is a critical component in ensuring efficient energy consumption, reducing losses, and improving billing accuracy for consumers. We look forward to working with EDF, a leader in the sector globally, to scale our joint venture in India." The joint venture between EDF India and Actis aligns with India's broader vision of achieving a more resilient and efficient power distribution network. By leveraging cutting-edge technology, data analytics, and global best practices, the initiative aims to drive a transformative impact on the country's power sector, benefiting both utilities and consumers alike. Actis is a leading global investor in sustainable infrastructure, seeking to deliver measurable positive impact for the countries, cities and communities in which it operates. Actis invests in structural themes that aim to support long-term, equitable growth in defensive, critical infrastructure across energy transition, digitalisation transition, and supply chain transformation.Actis believes that the firm's decades of global experience, operational know-how and strong culture allow it to create global sustainability leaders at scale. Actis is a signatory to the Principles for Responsible Investment (PRI), an investor initiative supported by the United Nations. The EDF Group is a key player in the energy transition, as an integrated energy operator engaged in all aspects of the energy business: power generation, distribution, trading, energy sales and energy services. The Group is a world leader in low-carbon energy, with a low carbon output of 490TWh (1), and a diverse generation mix based mainly on nuclear and renewable energy (including hydropower). It is also investing in new technologies to support the energy transition. EDF's raison d'etre is to build a net zero energy future with electricity and innovative solutions and services, to help save the planet and drive well-being and economic development. The Group supplies energy and services to approximately 41.5 million customers (2) and generated consolidated sales of EUR118.7 bn in 2024. (1) See EDF's 2023 URD sections 1.2.3, 1.3.2 and 3.1 (2) The customer portfolio consists of electricity, gas and recurring services contracts. (ADVERTORIAL DISCLAIMER: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)
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