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Apraava Energy has secured USD 92 million in financing from British International Investment (BII) and Standard Chartered, marking a major boost for its smart metering and clean energy initiatives in India.
The Mumbai-headquartered integrated energy solutions provider said the combined funding will strengthen its advanced metering infrastructure footprint and contribute to national energy transition goals.
According to the company, Apraava signed an agreement of about USD 46 million with British International Investment and a similar agreement with Standard Chartered. The financing will support the installation of nearly 2 million smart meters across homes and businesses. These meters are expected to enhance grid efficiency and reliability while enabling better integration of renewable power sources. They will also help reduce aggregate technical and commercial losses, which in turn can lower emissions.
Founded in 2002, Apraava Energy is jointly owned by the CLP Group and La Caisse. Over the years, it has grown from a single asset operation to a climate conscious organisation with a presence in 13 states.
The company claims to have an installed capacity of roughly 3.4 GW, including about 1,200 MW of wind energy and 250 MW of solar energy. Its portfolio also includes a 1,320 MW super critical coal plant and two transmission assets spanning about 494 km.
Apraava is currently constructing four greenfield transmission projects with nearly 500 km of planned lines, along with new wind and solar projects of 300 MW and 550 MW respectively.
The company has also expanded into the smart metering segment and is executing orders for around 7.8 million meters in Assam, Gujarat, West Bengal, Himachal Pradesh, Rajasthan, Puducherry and Madhya Pradesh. It plans to continue investing in low carbon solutions and customer focused energy services.
This article was originally published by the Entrepreneurindia.com. To read the full version, visit here 
