Genus Power shares rise after subsidiary inks Rs. 2,247-crore contract for metering infrastructure.

Genus Power Infrastructures Ltd’s shares were up by 4.55 per cent after the company announced that its subsidiary had secured a contract worth Rs. 2,247.37 crore.

The contract involves the appointment of Advanced Metering Infrastructure Service Providers (AMISPs) to design and implement an advanced metering infrastructure (AMI) system. It also includes the supply, installation, commissioning, and Full Maintenance Service (FMS) for 24.18 lakh Smart Prepaid Meters, along with system meters, including OT Meters, and energy accounting, following the DBFOOT model (HYBRID Model, CAPEX Plus OPEX).

This development aligns with the ongoing efforts of various State Electricity Boards (SEBs) to procure smart meters as part of the ‘Reforms-Based, Result-Linked Power Distribution Sector Scheme.’

HBL