Polaris Smart Metering Secures $80 Million In BII Financing To Accelerate India's Smart Meter Rollout In West Bengal

(MENAFN- ForPressRelease) New Delhi, India, May 01, 2026: Polaris Smart Metering Pvt. Ltd, one of India's leading integrated smart metering and digital energy infrastructure companies, has announced the successful closure of approximately $80 million in financing from British International Investment (BII), the UK's development finance institution and impact investor.

The financing has been secured for its subsidiary Hooghly Smart Metering Pvt. Ltd and will support the deployment of over 2.2 million smart meters across West Bengal, strengthening Polaris' advanced metering infrastructure (AMI) footprint and contributing directly to India's national energy transition agenda.

Addressing India's Power Distribution Challenge

India's power distribution sector is undergoing one of its most significant transformations. Distribution utilities across the country continue to face persistent structural challenges, including high aggregate technical and commercial (AT&C) losses, operational inefficiencies, and the urgent need to modernise infrastructure to support the growing integration of renewable energy.

The Government of India launched the Revamped Distribution Sector Scheme (RDSS) with an outlay of approximately ₹3 trillion ($35 billion) to address these systemic challenges. A central pillar of the scheme is the nationwide rollout of advanced metering infrastructure, targeting the installation of 250 million smart meters by 2027. The West Bengal deployment by Polaris forms a meaningful part of this national programme.

Leadership Commentary

Yashraj Khaitan, Founder and CEO of Polaris, said: "This financing marks an important milestone in Polaris' journey to help build a smarter, more transparent, and future‐ready power distribution ecosystem for India. It will strengthen our AMI deployment in West Bengal and further reinforce our commitment to investing in technology, execution capability, and manufacturing scale."

Shilpa Kumar, Managing Director and Head of India at British International Investment, commented: "Smart meters play a crucial role in reducing losses, improving reliability and enabling better integration of renewable energy. This investment reflects our continued commitment to India's green and energy‐efficient future."

Impact of the Deployment

The rollout of over 2.2 million smart meters in West Bengal is expected to deliver measurable improvements across billing accuracy, operational efficiency, and consumer transparency. The deployment will also help reduce distribution losses, improve grid reliability, and enable better integration of renewable energy into the distribution network, building a more resilient and sustainable power infrastructure for the state.

About Polaris Smart Metering

Polaris Smart Metering Pvt. Ltd is an I Squared Capital portfolio company and one of India's leading homegrown, integrated smart metering solution providers. The company delivers end-to-end AMI capabilities across meter manufacturing, deployment, communications infrastructure, and software platforms. Polaris has been appointed as an Advanced Metering Infrastructure Service Provider (AMISP) across multiple states, including Bihar, Uttar Pradesh, Ladakh, Manipur, and West Bengal.

About British International Investment

British International Investment is the UK's development finance institution and impact investor, with a mandate to support the growth of businesses in Africa and Asia. BII invests in companies and funds that create jobs, support sustainable infrastructure, and contribute to climate solutions across emerging markets.

Contact: Polaris Smart Metering Pvt. Ltd
Email: [email protected],
Phone: +91 141 235 8178]

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