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					</table><p>The U.S. International Development Finance Corporation (<a href="https://www.dfc.gov/" target="_blank" rel="noopener">DFC</a>) has agreed to extend a loan of $49.5 million to Genus Power Infrastructures (<u><a href="https://genuspower.com/" target="_blank" rel="noopener">Genus</a></u>) for the expansion of electric smart meters implementation across India.</p>
<p>DFC is the development finance institution of the United States.</p>
<p>Genus has manufacturing plants across Jaipur, Haridwar, and Guwahati, with an installed capacity of over 10 million smart meters.</p>
<p>The company has developed smart metering solutions with its in-house research and development center and also has an engineering, construction, and contracts division that complements the existing meters business.</p>
<p>Genus has been participating in the Advanced Metering Infrastructure Service Provider (<a href="https://www.gtai.de/en/trade/india/tenders/advanced-metering-infrastructure-service-provider-amisp-for-smart-metering-on-design-build-finance-own-operate-transfer-dbfoot-basis-on-hybrid-opex-model-in-mpmkvvcl-mp-635684#:~:text=The%20AMISP%20shall%20transfer%20the,seamless%20operation%20of%20Utility%20businesses." target="_blank" rel="noopener">AMISP</a>) program, an initiative by the government of India to implement smart metering projects.</p>
<p>Recently, Genus was awarded nearly 4 million meters under the program and is actively pursuing additional projects, the company said.</p>
<p>Jitendra Kumar Agarwal, Joint MD of Genus, said he believes that this collaboration positions Genus to emerge as a key player in the AMISP market.</p>
<p>The government is implementing the Smart Metering Project nationwide through the Revamped Distribution Sector Scheme (RDSS). The project aims to install 250 million meters and make a targeted investment of $30 billion by 2025.</p>
<p>The installation of smart meters under the program is expected to address the problem of technical and commercial losses, which exceed 15% for major Indian utilities, leading to significant financial losses.</p>
<p>The implementation of smart metering projects is intended to reduce such losses, enhance the operational efficiency of DISCOMs (distribution companies), and improve their financial sustainability through results-linked financial assistance.</p>
<p>The Aggregate Technical and Commercial (AT&amp;C) losses of DISCOMs <a href="https://www.mercomindia.com/discoms-atc-losses-decline-17-fy22-tough-reforms" target="_blank" rel="noopener">declined</a> significantly to ~17% in the financial year 2021-22 from 22.32% in the previous year, thanks to a series of steps taken by the Ministry of Power.</p>
<p>In October 2022, Energy Efficiency Services, as part of its Smart Meter National Program, <a href="https://www.mercomindia.com/daily-news-wrap-eesl-installs-three-million-smart-meters" target="_blank" rel="noopener">installed</a> over three million smart meters in Rajasthan, Uttar Pradesh, Haryana, Delhi, Bihar, and Andaman. EESL aims to install over 4.7 million smart meters by December 2023.</p>


DFC Commits $49.5 Million to Help Genus Power Expand Smart Meter Program

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