SEPC wins Rs 314 crore smart metering order in Punjab

SEPC Ltd, formerly Shriram EPC Ltd, announced that it has secured an order worth Rs 313.96 crore for a smart metering project in Punjab’s Central Zone. The order has been received from Telecommunications Consultants India Ltd (TCIL) under the Revamped Distribution Sector Scheme (RDSS).

The project will be executed on a Design, Build, Finance, Own, Operate, and Transfer (DBFOOT) basis through a consortium with Adya Smart Metering Pvt Ltd. The scope covers design, supply, installation, integration, commissioning, and long-term operation and maintenance of advanced metering infrastructure (AMI) for Punjab State Power Corporation Ltd (PSPCL).

SEPC stated that payments will be made on a back-to-back basis and linked to defined monthly, quarterly, and annual milestones during the operational go-live phase. The structure is intended to support predictable, long-term revenue flows over the contract period.

Commenting on the order, Venkataramani Jaiganesh, Managing Director of SEPC Ltd, said it reflects client confidence in the company’s execution capabilities for complex infrastructure projects. He added that smart metering is a key element of power distribution reforms and that the DBFOOT model aligns with the company’s focus on annuity-linked revenues with controlled risk and capital exposure.

The company said the Letter of Intent strengthens its order book and expands its presence in the power distribution and metering segment amid continued public sector investment in distribution reforms.

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