Adani Transmission Step-Four (ATSFL), a subsidiary of Adani Energy Solutions (AESL), has entered into a joint venture (JV) agreement with Esyasoft Holdings (EHL), a UAE-based company. The purpose of this JV is to implement smart metering projects in India and globally. The agreement includes the licensing of intellectual property rights of software products and solutions for smart meters and other industrial applications. The JV company, formed by ATSFL and EHL, will be responsible for the further development of these products and solutions.
Under the terms of the agreement, ATSFL and EHL will hold a 49 percent and 51 percent shareholding, respectively, in the proposed JV. Both companies will have equal participation in the company's Board of Directors (BoDs), ensuring collaborative decision-making.
In a separate development, AESL has received a letter of intent (LoI) to acquire Halvad Transmission from PFC Consulting. This acquisition is aimed at facilitating the evacuation of seven GW of renewable energy (RE) from Khavda RE park in Gujarat.
The partnership with EHL and the acquisition of Halvad Transmission demonstrate AESL's commitment to expanding its presence in the smart metering sector and renewable energy transmission. By leveraging EHL's software products and solutions, the JV aims to enhance the implementation of smart metering projects in India and globally. Additionally, the acquisition of Halvad Transmission will strengthen AESL's capabilities in evacuating renewable energy, supporting the growth of clean energy initiatives in Gujarat.
Through these strategic moves, AESL is poised to contribute to the development of sustainable and efficient energy infrastructure in India, while also exploring opportunities in the global market.
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