June 22, 2024

Polaris partners with IT Corridor Hostels Association to implement Smart Metering

Polaris partners with IT Corridor Hostels Association to implement Smart Metering

l There is a potential requirement of 2 lakh smart meters in Hyderabad

l Polaris to Enhance Power Efficiency for IT Corridor Hostels

l Smart Meters to Combat Power Theft in PG Hostels

l User-Friendly App Empowers Consumers with Power Usage Insights

Hyderabad (Telangana) [India], October 3: Polaris Smart Metering Pvt Ltd (formerly Grampower) formalised a Memorandum of Understanding (MoU) with the IT Corridor Hostels Association for the deployment of prepaid smart meters in Hyderabad.

In attendance at the MoU signing event at the Avasa Hotel Madhapur were IT Corridor Hostels Association President Pasam Amarnath Reddy, General Secretary Tata Karunakar, and Treasurer Maheedhar, alongside representatives from Polaris Smart Metering, including Founder and CEO Yashraj Khaitan, and Vertical Lead Pranjal Tyagi, TS & APGeneral Manager Sales & MarketingNagesh Patnaik, among others.

The collaborative agreement aims to install smart prepaid meters, thereby curbing energy losses and enhancing revenue collection efficiency for PG/Hostel operators. Additionally, it facilitates real-time power monitoring and alerts for tenants, enabling them to adopt energy-efficient practices and reduce their power expenses.

Polaris is a Jaipur-based company which recently closed 100$ million in funding from isquared capital. Polaris stands as India’s foremost integrated smart metering solution, operational in over 25 cities, collaborating with 15 co-living companies, individual consumers, and over a thousand PG proprietors. Polaris has already been working in Hyderabad for the last 2 years; with this association, its business in the PG and hostel sector will grow by multi-folds. Polaris has demonstrated substantial reductions in power distribution losses across four Discoms through the implementation of an intelligent power distribution system.

Elaborating on the features of prepaid smart meters, Yashraj Khaitan, CEO of Polaris Smart Metering Pvt Ltd, highlighted that these meters provide customers with real-time balance information, along with an estimate of how long the available power will last based on the usage of specific appliances like fans and lights. This level of control empowers consumers to use electricity judiciously, ultimately contributing to improved power efficiency. Mr. Khaitan emphasized the significant benefits of the smart meter concept for PG Owners and their Associations. There is a potential requirement of 2 lakhs smart meters in Hyderabad hostels and PGs, he added.

Speaking on the occasion, the President of the IT Corridor Hostels Association, Pasam Amarnath Reddy, lauded the effectiveness of smart meters in regulating power consumption. He emphasized their dual benefit for both consumers and property owners, underlining the user-friendly nature of the concept, which not only thwarts power theft and meter tampering but also advances power efficiency.

Polaris takes pride in its state-of-the-art smart energy meter platform, offering utilities a comprehensive solution for digitizing and automating metering, billing, and collection processes. The platform empowers utilities to manage their extensive and dispersed power infrastructure effectively, identifying and rectifying theft, leakages, and inefficiencies in the grid. Through digitalization and automation, utilities enhance operational efficiency and financial performance while ensuring a more reliable and sustainable energy supply to their customers.

The IT Corridor Hostels Association represents over 4,000 hostels in the Gachibowli, Madhapur, RaiDurgam Nanakramguda, Kondapur, and IT Corridor regions.

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