Apraava Energy, a company that provides energy solutions, announced that it has raised about $92 million from British International Investment (BII) and Standard Chartered.
The company signed two separate deals — about $46 million from BII and another $46 million from Standard Chartered. This money will be used to grow Apraava’s Advanced Metering Infrastructure (AMI) operations, which play an important role in India’s clean energy plans.
With this funding, Apraava will be able to install around 2 million smart meters in homes and businesses across India.
These smart meters will make India’s power grid more efficient, reliable, and sustainable. They will also support better use of renewable energy and help cut technical and commercial losses, which in turn will reduce emissions.
Samir Ashta, Director – Finance & CFO, Apraava Energy, said, “Just as India stands at a pivotal moment in its energy transition journey, Apraava is charting a new course by diversifying into the AMI business, a critical step toward advancing the nation’s power sector. With this financing, we’re scaling up our smart metering efforts. Partnership with Standard Chartered and BII empowers us to accelerate this journey and help build a low-carbon, customer-centric energy future.”
“Smart metering is an emerging yet critical part of the business model. It strengthens the distribution dynamics in the energy sector and can significantly drive India’s journey toward a greener and more sustainable power sector. As the UK’s development finance institution, we play a catalytic role in accelerating this transition by partnering with innovative companies like Apraava and financiers like Standard Chartered,” added Shilpa Kumar, Managing Director and Head of India, British International Investment.
Apraava Energy, founded in 2002, is jointly owned by the CLP Group and La Caisse. The company has grown from managing just one project to becoming a climate-focused energy company working across 13 states in India.
Today, Apraava has about 3.4 GW of power capacity. This includes around 1,200 MW of wind energy and 250 MW of solar energy. It also operates a 1,320 MW supercritical coal power plant and manages two transmission lines that stretch over about 494 km.
The company is currently building four new transmission projects with nearly 500 km of lines. It is also developing new wind projects (300 MW) and solar projects (550 MW).
Apraava has expanded into smart metering too. It is working on orders for about 7.8 million smart meters across states like Assam, Gujarat, West Bengal, Himachal Pradesh, Rajasthan, Puducherry, and Madhya Pradesh. The company plans to continue investing in clean energy and customer-focused energy services.
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