This comes as the company is implementing orders for 1.4 million smart meters in India
France’s Schneider Electric is looking to increase the share of local components in electricity meters sold in India, its Executive Vice President, International Operations, Luc Remont has said.
This comes as the company is implementing orders for 1.4 million smart meters in India.
Remont was quoted saying in a official statement that Schneider plays an important role in smart grid technology globally and is poised to provide the same in India with local engineering and delivery support.
“We aim to build our indigenous capabilities in the segment and provide solutions as per the requirement of Indian utilities. The Schneider Electric Meters have significant local value addition and we are committed to continuously working towards further increasing the localization of components hence increasing the percentage local value add,” he said.
India plans to replace 25 crore conventional meters with smart meters in India by 2025 and with an initial target of installing 10 crore meters by December 2023, the government has already installed 19 lakh smart meters across various states under Smart Meter National Programme (SMNP).
Schneider’s manufacturing facility at Mysuru in Karnataka has a capacity to produce 17 million meters annually. It has so far supplied over 70 million electricity meters and 3 lakh smart meters in India.
The facility performs multiple functions including Research & Development, testing manufacturing, quality, and procurement.