Abhishek Sinha
Mumbai, December 3, 2025: Apraava Energy, one of India’s prominent integrated energy solutions companies, has secured INR 8,009 million (~USD 92 million) in financing from British International Investment (BII) — the UK’s development finance institution — and Standard Chartered. The deal reflects a strong collaboration between two major UK institutions, combining commercial and development capital to support India’s energy transition.
Apraava signed two separate agreements: INR 4,005 million (~USD 46 million) from BII and INR 4,004 million (~USD 46 million) from Standard Chartered. The funding will accelerate the expansion of Apraava’s Advanced Metering Infrastructure (AMI) network and strengthen India’s broader smart metering and clean energy goals.
India’s power sector is currently undergoing large-scale reforms to improve efficiency, reduce losses and enhance sustainability. Despite progress, distribution utilities still face high levels of technical and commercial losses. To address this, the Government of India launched the INR 3 trillion (~USD 35 billion) Revamped Distribution Sector Scheme (RDSS).
A central pillar of RDSS is the nationwide rollout of AMI smart meters, aimed at improving grid efficiency, enhancing transparency, and supporting renewable energy integration. The government has set a target of installing 250 million smart meters by 2026.
Apraava provides a comprehensive AMI solution and is positioned as a key player in the national rollout. The company’s current footprint spans multiple states, with plans to install around 7.8 million smart meters.
The financing from BII and Standard Chartered will enable Apraava to deploy approximately two million new smart meters across homes and businesses. These installations are expected to make the power grid more reliable and efficient, reduce aggregate technical and commercial losses, cut emissions and support greater renewable energy penetration.
Commenting on the development, Samir Ashta, Director – Finance & CFO, Apraava Energy, said the company is expanding its presence in the AMI space at a defining moment for India’s clean energy transition. He highlighted Apraava’s successful execution of India’s first RDSS project go-live in Assam and the fastest go-live in Himachal Pradesh, noting that the new financing will accelerate efforts to build a more transparent, affordable and resilient power ecosystem.
Shilpa Kumar, Managing Director and Head of India, BII, said smart metering is emerging as a critical component for strengthening India’s distribution sector. She added that BII’s partnership with Apraava and Standard Chartered will support grid efficiency, improve service delivery and contribute to emission reductions, aligning with the UK institution’s climate and energy transition focus.
Prasad Hegde, Regional Head, Infrastructure & Development Finance Group, India and South Asia, Standard Chartered, said the bank is committed to backing projects that enhance efficiency and sustainability in India’s power sector. He reaffirmed Standard Chartered’s long-standing support for India’s decarbonisation and clean energy objectives.
Jamie Scattergood, Deputy Head of Mission, British Deputy High Commission, Mumbai, said smart meters play a vital role in strengthening distribution efficiency and highlighted the UK’s collaboration with India in accelerating clean energy adoption under the RDSS framework.
This landmark investment marks a significant milestone for Apraava Energy, underscoring its expanding leadership in India’s smart metering ecosystem and its commitment to building a smarter, more resilient and customer-centric power distribution network.
