Apraava Energy has raised USD 92 million (INR 8009 million) from British International Investment (BII) and Standard Chartered to expand its smart metering footprint and support India’s energy transition efforts.
The company signed two agreements, INR 4005 million from BII and INR 4004 million from Standard Chartered to accelerate its work under the national smart metering programme.
The funding will be used to install more than two million smart meters and enhance Apraava’s Advanced Metering Infrastructure (AMI) operations across multiple states.
The investment also supports India’s broader goals under the government’s Revamped Distribution Sector Scheme (RDSS), which aims to deploy 250 million smart meters by 2026.
Founded in 2002, Apraava Energy is headquartered in Mumbai and jointly owned by CLP Group and La Caisse. Over the years, the company has grown into an integrated energy player with a portfolio spanning renewable energy, transmission assets and smart metering projects. Its AMI work currently includes orders for about 7.8 million smart meters across Assam, Gujarat, West Bengal, Himachal Pradesh, Rajasthan, Puducherry and Madhya Pradesh.
Apraava says the new capital will help strengthen grid efficiency, reduce technical and commercial losses, and support better integration of renewable energy. The company earlier delivered India’s first operational RDSS smart metering project in Assam and completed one of the fastest go-lives in Himachal Pradesh.
Executives from Apraava Energy, BII and Standard Chartered said the partnership reflects a shared commitment to advancing clean energy adoption through digital infrastructure. The rollout of smart meters is expected to improve transparency for consumers, enable utilities to manage demand more effectively and support India’s push toward a low-carbon power system.
