Adani Energy Solutions Takes Stride Towards Innovation: Enters Joint Venture with Esyasoft Holdings for Smart Metering Projects.
Adani Energy Solutions revealed a significant development on Wednesday, unveiling plans for its subsidiary, Adani Transmission Step-Four (ATSFL), to form a strategic partnership with Esyasoft Holdings (EHL) based in the United Arab Emirates (UAE). The collaboration aims to lead the way in implementing innovative smart metering projects not only in India but also globally. Under the joint venture, ATSFL will hold a 49% stake, while EHL will secure the majority holding of 51%. Both companies will have equal representation on the board of directors, as outlined in a regulatory disclosure.
As per the official filing, Adani Energy Solutions, through its wholly-owned ATFSL subsidiary, finalized a definitive agreement on December 26, 2023. The agreement outlines the creation of a 49:51 joint venture with EHL, strategically focused on driving smart metering initiatives across India and beyond.
The main objective of this agreement involves EHL providing licensing rights for intellectual property associated with software products and solutions tailored for smart metering applications and various industrial sectors. Additionally, the collaboration aims to progressively develop these software products and solutions through a joint venture company operated by both ATSFL and EHL.
This landmark agreement represents a crucial stride in leveraging cutting-edge technology and expertise from both entities, establishing a robust platform for innovation and advancement in the field of smart metering technologies in India and international markets.