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Apraava Energy, an integrated energy solutions company, said on Wednesday that it has raised about $92 million from British International Investment (BII) — the UK’s development finance institution — and Standard Chartered.
“Apraava Energy signed a financing deal worth about $46 million with BII and another similar $46 million agreement with Standard Chartered. The total funding will help expand Apraava’s Advanced Metering Infrastructure (AMI) operations and support India’s clean energy transition.
With this funding, Standard Chartered and BII will help Apraava install about 2 million smart meters in homes and businesses.
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These smart meters will make India’s power grid more efficient, reliable, and sustainable. They will also support better use of renewable energy and help cut technical and commercial losses, which in turn will reduce emissions.
Samir Ashta, Director – Finance & CFO, Apraava Energy, said, “Just as India stands at a pivotal moment in its energy transition journey, Apraava is charting a new course by diversifying into the AMI business, a critical step toward advancing the nation’s power sector. With this financing, we’re scaling up our smart metering efforts. Partnership with Standard Chartered and BII empowers us to accelerate this journey and help build a low-carbon, customer-centric energy future.”
“Smart metering is an emerging yet critical part of the business model. It strengthens the distribution dynamics in the energy sector and can significantly drive India’s journey toward a greener and more sustainable power sector. As the UK’s development finance institution, we play a catalytic role in accelerating this transition by partnering with innovative companies like Apraava and financiers like Standard Chartered,” added Shilpa Kumar, Managing Director and Head of India, British International Investment.
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About Apraava Energy
Founded in 2002, Apraava Energy is jointly owned by the CLP Group and La Caisse. It has grown from running a single asset to becoming a climate-focused company operating in 13 states.
The company says it has about 3.4 GW of installed capacity, including around 1,200 MW of wind power and 250 MW of solar power. Its portfolio also includes a 1,320 MW supercritical coal plant and two transmission assets covering about 494 km.
Apraava is now building four new transmission projects with nearly 500 km of planned lines, along with new wind (300 MW) and solar (550 MW) projects.
The company has also moved into smart metering and is working on orders for around 7.8 million meters across Assam, Gujarat, West Bengal, Himachal Pradesh, Rajasthan, Puducherry, and Madhya Pradesh. It plans to keep investing in low-carbon solutions and customer-focused energy services.
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