CyanConnode to deploy smart metering for a government-owned utility in South India

smart metering

LONDON: CyanConnode Holdings plc has received a Letter of Intent (LOI) from partner Genus Power Infrastructures Limited for deployment of 142,000 unit smart metering for one of the largest government-owned utilities in South India. 

Under this LOI, CyanConnode will supply Advanced Metering Infrastructure (AMI) standards-based hardware, services, and head-end software, which includes a perpetual license and an annual maintenance contract.

The Company’s Omnimesh technology will provide a network canopy, enabling a hybrid RF smart mesh and cellular communication platform that is scalable to 200,000 smart meters.  The installation of the project is expected within the next fifteen months, with approximately 80% of the revenue being recognised during the first two years and the balance being received during a further 7-year support and maintenance contract.

Through Genus, CyanConnode’s technology was selected following the Utility’s competitive bidding process.  This process included a request for proposal (RFP) as part of the bid evaluation process.

The LOI is one of the orders that was referred to in the Company’s announcement on 31 October 2019. The other orders are still being negotiated and have not been awarded to date.

As a result of the delays in the award of these contracts the Company anticipate that operating cost savings will be approximately £0.8 million per annum rather than £0.48 million previously reported on 13 May 2019. The Board anticipate that these in year cost savings will provide further benefit into 2020, and anticipate the savings to increase by a further £1.2 million per annum for 2020.

Anil Daulani, CEO & Managing Director of CyanConnode India, commented: “We are delighted to have received a LOI from Genus, which relates to an order they have received from a new end customer in South India.

“As India begins to evolve into the world’s largest smart metering market, utilities have begun to realise the benefits of CyanConnode’s robust RF mesh technology, and I therefore look forward to giving further updates in due course.”

JK Agarwal, Joint Managing Director of Genus, commented: “The partnership with CyanConnode brings together complementary products and a wealth of expertise in the smart metering / technology domain that will meet our customers’ needs and support the Indian government’s objectives.”

Leave a Reply

Your email address will not be published. Required fields are marked *