en.Wedoany.com Reported - Gemstar Infra has secured a financing commitment of 26 billion Indian rupees (approximately $274 million) from a consortium led by the International Finance Corporation (IFC) to accelerate smart metering infrastructure development in Rajasthan.
This funding will be directed to the company's special purpose vehicle (SPV) and forms part of a larger financing plan led by the IFC for the Rajasthan project. The consortium also includes India Infrastructure Finance Company Limited (IIFCL). The investment will be used to deploy and operate approximately 13.6 million smart meters across 28 districts in Rajasthan, under the Indian government's Revamped Distribution Sector Scheme (RDSS). The scheme aims to improve the efficiency and financial health of distribution companies through technology-driven reforms and modernization initiatives.
The deployment of smart meters is intended to enhance billing accuracy, energy accounting, and collection efficiency, while helping to reduce aggregate technical and commercial (AT&C) losses, which remain a significant challenge for distribution utilities. Increased smart meter penetration is expected to improve transparency in electricity consumption and optimize distribution network management. Gemstar Infra, as an advanced metering infrastructure service provider (AMISP), views this financing as a key step in expanding its role in India's power sector transformation. NK Panda, CEO of Gemstar India, stated that this funding reflects the confidence of international and domestic financial institutions in India's rapidly growing smart metering industry. He noted that the Rajasthan project will strengthen distribution infrastructure while supporting India's broader goals of energy transition and digitalization under the RDSS.
Vikram Kumar, IFC's Regional Industry Director for Infrastructure and Natural Resources in Asia-Pacific, emphasized that expanding smart meter installation is a critical component of India's power sector reform. He stated that the investment aligns with the World Bank Group's strategy to support infrastructure modernization, attract private capital, and create jobs in installation, operation, and maintenance. The project is expected to contribute to the modernization of Rajasthan's power sector and support India's long-term energy and digital transformation goals.
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