•Secures the award for Intelligent Grid & Smart Metering Solutions for power distribution service
•Use of smart metering and intelligent grid solutions reduce Commercial & Technical losses from 65% to 8%
· Effective use of technology resulting in providing reliable power supply & accurate billing for consumers
April 21 2016, 16.29 PM IST || Pocket News Alert
New Delhi, April 21, 2016: Essel Infraprojects Limited has been conferred with the Golden Peacock Innovative product /service award 2016 for providing smart value and efficiency to consumers.
The Golden Peacock Awards ceremony was held in Dubai (UAE) in the presence of distinguished business leaders, academics, boardroom professionals and policy makers. The theme for the 26th World Congress was ‘Leadership for Business Excellence & Innovation’.
Essel Infraprojects was recognized for effectively deploying technology to bring social and economic transformation by implementing Intelligent Grid with Smart Metering Solutions. The initiative reduced the commercial & technical losses from 65 % to 8 % and at the same time provided reliable power supply and accurate billing to consumers.
His Highness Sheikh Nahyan bin Mubarak Al Nahyan, Hon'ble Cabinet Minister of Culture & Knowledge Development, Govt. of UAE was the Chief Guest at the award ceremony. The awards were selected under the chairmanship of Justice M.N. Venkatachaliah, former Chief Justice, Supreme Court of India.
CEO Ashok Agarwal, Essel Infraprojects, on receiving the award said, “We are highly focused and committed to offer innovative, economical and sustainable technology to our consumers and bring social and economic improvement in the quality of lives of our people. We are delighted with the recognition bestowed by the Golden Peacock, which endorses our efforts”.
Mr. Agarwal further said, “The intelligent grid infrastructure is connected on the internet which allows real time monitoring of the grid & installation of smart meters helps consumers aware of their energy consumption in real time making win-win situation for both.
The company used smart metering and intelligent grid solutions for Essel Vidyut Vitaran (Muzaffarpur) Pvt Ltd which manages power distribution franchise for Muzaffarpur City, Bihar. The model helped to reduce Aggregate Technical and Commercial (AT&C) losses and improve the reliability of power supply.
This pilot project is successful and commercially viable as it’s a low cost technology model and has regulatory approval. Going forward smart meter / prepaid meter can be easily implemented in other progressive states. Using over the top (OTT) device solution will convert existing meters into smart meters.
About Muzaffarpur Experiment:
The company implemented smart metering and intelligent grid solutions on 5,000 meters in Muzaffarpur power distribution franchise area (Essel Vidyut Vitaran (Muzaffarpur Pvt Ltd) which caters to 4 lakh consumers including 2.2 lakh rural consumers. The implementation of intelligent grid technology helped obtain real time data on faults, incidences of power theft and reduce and optimize load between agriculture, domestic and commercial consumers.
Additionally, the deployment of smart meters helped in remote monitoring of meters without human interface and ensuring accurate billing by avoiding human errors. The results of the pilot project were quite astounding as it helped company to reduce (AT&C) losses from 65% to 8% and improve revenue collection from 23% to 78%. It also helped reduce number of hours of power outage every day from 40% to 14% and restrict it to 3.5 hours per day.
It also offered consumers multiple benefits like finding out their consumption levels in real time, reduction of energy loss resulting in more power and saving on valuable time otherwise wasted in queues for bill payment through smart pre-paid meters. The Company is committed to use of technology to bring better service experience to its customer and optimum utilization of country’s scarce resources to bring maximum efficiencies.
About Golden Peacock Awards Secretariat
Golden Peacock Awards, instituted by the Institute of Directors, India in 1991, are now regarded as a benchmark of Corporate Excellence worldwide. Today Golden Peacock Awards Secretariat receives over 1,000 entries per year for various awards, from over 25 countries worldwide. The achievement of the Golden Peacock Award is the most powerful way to build your brand. All sector of our business both in manufacturing and service, whether Public, Private, Government, NGO’s self accounting Institution, Business Units, are eligible to apply for the award. Individual leadership awards are determined through nomination only, based on complete career profile and achievements.
The Award applications are assessed at 3 three levels by independent assessors and finally by a Grand Jury. All institutions whether public, private, non-profit, government, business, manufacturing and service sector are eligible to apply. Leadership Awards are determined through nomination. They provide not only world- wide recognition and prestige but also a competitive advantage in driving business in this tumultuous world under Golden Peacock Award models.The Awards are bestowed annually and are designed to encourage total improvement in each sector of our business. The Awards Secretariat has constituted an Expert Evaluation Committee comprising from various sectors are invited to examine the applications. Each of the applications is reviewed independently by assessors and the applications which satisfy the basic review requirements are short listed for Awards. The applications are assessed on an exhaustive set of parameters as mentioned in the guidelines for a total score card of 1000 marks. Cut-off applied on each application is 80 percent. Entries occupying top positions are recommended for consideration of the Jury.
About Essel Group
The Essel Group is among India's most prominent business houses with a diverse portfolio of assets in media, packaging, entertainment, technology-enabled services, infrastructure development and education. The Group started business in 1976 with a commodity trading and export firm. Today, Essel Group of Companies is a vast conglomerate of Media, Technology, Entertainment, Packaging, Infrastructure, Education, Healthy Lifestyle & Wellness, Financial Services and Precious Metals with worldwide operations and a workforce of over 10,000 dedicated employees.
One of the fastest growing companies having diversified interests in infrastructure projects, Essel Infraprojects Ltd. Is a successful venture by the Essel Group with 3 SBUs & 6 business verticals comprising of order book value USD 5.6 billion and a National footprint in more than 15 states and across 52 cities. We aspire to contribute to India's growth story by investing in key infrastructure initiatives. The company has embarked on an exciting journey to transform the façade of our nation with significant infrastructure projects.
The group ventured in Infrastructure space in 2007 with an entry into the surface transport segment and today has presence in transport (roads), power transmission & distribution, urban infrastructure, environment engineering (municipal solid waste), renewable energy (solar & hydro), integrated utilities (power, water, solid waste management and cable & broadband).