Gurugram, 5th October, 2023: RECPDCL, a subsidiary of REC Limited specializing in power sector consultancy, has achieved a significant milestone by signing Implementation Contracts and Direct Debit Facility (DDF) Agreements with Advanced Metering Infrastructure Service Providers (AMISPs) IntelliSmart and Apraava Energy.
This collaboration aims to deploy 17.7 Lakh Smart Meters for Dakshin Gujarat Vij Company Ltd (DGVCL) and 23.6 Lakh Smart Meters for Paschim Gujarat Vij Company Ltd (PGVCL). The implementation of these smart meters will revolutionize the power distribution sector in Gujarat, enhancing efficiency, reliability, and affordability.
The DDF arrangement is a crucial component of this collaboration, ensuring payment security for AMISPs. It enables prompt payment of monthly charges directly from consumer billing collections. This streamlined payment process will benefit both the AMISPs and consumers, enhancing financial sustainability and operational efficiency.
These initiatives align with RECPDCL’s commitment to the Restructured Distribution System Strengthening (RDSS) scheme. The RDSS scheme aims to improve the quality, reliability, and affordability of power supply across India.
REC Limited, the parent company of RECPDCL, is a leading NBFC focusing on power sector financing and development in India. With over fifty years of experience, REC Limited provides financial assistance for various types of power projects, including generation, transmission, distribution, and renewable energy. REC’s funding illuminates every fourth bulb in India.