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Polaris Smart Metering will invest nearly ₹4,500 crore by 2027 to expand manufacturing, projects, and enter battery energy storage. The move also sets the stage for a potential IPO.
What it does: Polaris Smart Metering (formerly Gram Power) is an Indian energy tech company that helps power companies reduce electricity losses and track power usage in real time using smart meter technology.
The deets: the company will commission a new 250,000 square feet manufacturing facility called Polaris Nova in Rajasthan by December 2026.
This will double its annual smart meter production capacity from 5 million units to 10 million units, making it the largest single smart metering plant in India.
If 10 million smart meters are installed in a year, that means electricity use for nearly 1 crore homes or shops can be tracked in real time.
Looking ahead: along with smart meters, Polaris is also entering the battery energy storage business, targeting 5 GWh capacity (enough to power roughly 80,000 to 1 lakh EVs), starting with 1 GWh in phase one.
The goal: Polaris currently holds about 10% market share in India’s smart electricity metering space. It plans to increase that to about 20% in the next 3-5 years, which means installing nearly 50 million smart meters.
This comes as the government’s nationwide rollout under the Revamped Distribution Sector Scheme gathers pace. The expansion also supports the company’s plans to explore an IPO.
The gap: out of the 250 million smart meters India plans to install, only about 50 million have been installed so far.
Polaris believes the sector is just getting started and is now expanding into grid digitalisation, demand management, and energy storage.
Adani Energy Solutions
