Adani Electricity Mumbai Ltd. (AEML) stated on 30th August 2022 that it is in the process of investing Rs. 500 crore for installation of 7 lakh smart electricity meters in Mumbai by the end of 2023. Smart meters for the remaining 20 lakh AEML consumers will be installed by the end of FY-25.
Out of these 7 lakh smart meters, 1.10 lakh meters have already been installed. The remaining 5.90 lakh meters will be installed by the end of 2023, as told by Kapil Sharma, COO, Adani Electricity.
AEML also stated that these installations are being completely funded by the company’s accruals.