Adani Energy Solutions announced a major step on Wednesday, announcing plans for its subsidiary, Adani Transmission Step-Four (ATSFL), to forge a strategic alliance with Esyasoft Holdings (EHL) based in the United Arab Emirates (UAE). This collaborative effort aims to spearhead the implementation of innovative smart metering projects across India and beyond. The joint venture will witness ATSFL holding a 49% stake while EHL will secure a majority holding of 51%. Both entities will share equal representation on the board of directors, as confirmed in a regulatory disclosure.
According to the official filing, Adani Energy Solutions, through its wholly-owned ATFSL subsidiary, has formally entered into a definitive agreement on December 26, 2023. The agreement delineates the establishment of a 49:51 joint venture partnership with EHL, strategically aimed at orchestrating smart metering initiatives across India and on a global scale.
The primary objective behind this agreement encompasses the facilitation of licensing rights by EHL pertaining to intellectual property rights (IPRs) associated with software products and solutions tailored for smart metering applications and various industrial sectors. Moreover, the collaboration envisions the progressive development of these software products and solutions by a joint venture company, jointly operated by ATSFL and EHL.
This monumental agreement marks a pivotal step towards harnessing cutting-edge technology and expertise from both entities, fostering a robust platform for innovation and advancement in the realm of smart metering technologies in India and across international markets.
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