Apraava Energy Raises USD 92 Million to Expand AMI Network, Supporting India’s Push Toward a Smarter and Low-Carbon Power Grid

Apraava Energy has raised INR 8,009 million (~USD 92 million) from British International Investment (BII) and Standard Chartered to accelerate the deployment of smart meters and support India’s ongoing energy transition. The financing marks a significant collaboration between two UK institutions aimed at strengthening India’s power distribution network.

Under the agreements, Apraava will receive INR 4,005 million (~USD 46 million) from BII and INR 4,004 million (~USD 46 million) from Standard Chartered. The combined funding will bolster the company’s Advanced Metering Infrastructure (AMI) portfolio and contribute to national targets under the Revamped Distribution Sector Scheme (RDSS).

India’s power sector is currently undergoing major reforms to enhance efficiency and reduce distribution losses. The RDSS, backed by an investment outlay of INR 3 trillion (~USD 35 billion), aims to install 250 million smart meters by 2026. Smart metering is expected to improve grid reliability, boost transparency, and facilitate higher renewable energy integration.

Apraava Energy, which already has an established AMI presence across several states, plans to install around 7.8 million smart meters under the scheme. The financing from BII and Standard Chartered will specifically support the rollout of over two million smart meters for households and businesses, improving grid efficiency and reducing aggregate technical and commercial losses.

Samir Ashta, Director–Finance & CFO of Apraava Energy, said the investment comes at a crucial moment in India’s clean energy transition. He highlighted Apraava’s leadership in delivering India’s first operational RDSS project in Assam and the fastest go-live in Himachal Pradesh, adding that the partnership enables the company to scale its customer-centric smart metering initiatives.

Shilpa Kumar, Managing Director and Head of India at BII, said smart metering is essential to strengthening India’s distribution sector and accelerating the transition to a sustainable power system. She emphasised that the initiative supports BII’s mandate to mobilise private capital for climate action.

Prasad Hegde, Regional Head, Infrastructure & Development Finance Group, India and South Asia at Standard Chartered, said the bank is committed to supporting India’s decarbonisation goals and views smart meter rollout as a critical step toward reducing distribution losses and enhancing sector sustainability.

Jamie Scattergood, Deputy Head of Mission at the British Deputy High Commission in Mumbai, said the collaboration demonstrates how UK development finance and commercial investment can jointly advance India’s clean energy goals under the RDSS framework.

The investment marks a major milestone for Apraava Energy, strengthening its role in India’s smart metering ecosystem and supporting the country’s vision for a more resilient, efficient and customer-focused power distribution network.