Gemstar Infra has secured a ₹2,600 crore financing commitment from an IFC-led consortium, including IIFCL, to support the deployment of 13.6 million smart meters across 28 districts of Rajasthan under the RDSS scheme.
Gemstar Infra Pte. Ltd. (Gemstar), a leading Advanced Metering Infrastructure Service Provider (AMISP), has secured a financing commitment of ₹2,600 crore (US$274 million) from a consortium led by the International Finance Corporation (IFC) to support the large-scale deployment of smart metering infrastructure across Rajasthan.
The partnership will support the deployment and operation of 13.6 million smart meters across 28 districts of Rajasthan under the Government of India’s Revamped Distribution Sector Scheme (RDSS). The scheme aims to improve the operational and financial performance of power distribution utilities through technology-enabled reforms.
The investment will enable increased smart meter penetration, with energy savings driven by improved billing accuracy, energy accounting, collection efficiency, and reduced aggregate technical and commercial losses.
NK Panda, Chief Executive Officer, Gemstar India, said, “This financing represents a significant milestone for Gemstar and reflects the confidence that leading international and domestic financial institutions have in India’s smart metering sector. The Rajasthan projects will contribute meaningfully to strengthening power distribution infrastructure while supporting the country’s broader energy transition and digitalization objectives under the RDSS.”
Vikram Kumar, Regional Industry Director, Infrastructure and Natural Resources in Asia and the Pacific, IFC, said, “Scaling up smart meters is an essential component of India’s power sector transformation. This investment, in line with the World Bank Group’s country strategy, supports infrastructure modernization, mobilization of private capital, and creation of jobs in installation, operations, and maintenance. We are proud to partner with Gemstar to support a technology-driven model that can strengthen the financial and operational performance of India’s power distribution sector.”
The financing marks a significant step towards modernising Rajasthan’s electricity distribution infrastructure while supporting the country’s efforts to build a more efficient, digitally enabled, and sustainable power sector.
