New Delhi: Adani Energy Solutions announced on Wednesday that its subsidiary, Adani Transmission Step-Four (ATSFL), will establish a partnership with UAE-based Esyasoft Holdings (EHL) to execute smart metering initiatives in India and other countries.
ATSFL and EHL would hold a 49 percent and 51 percent shareholding, respectively, in the proposed joint venture with equal participation in the board of directors of the company, according to a regulatory filing.
The filing said Adani Energy Solutions through its wholly-owned subsidiary ATFSL has entered into a definitive agreement on December 26, 2023 for the formation of a 49:51 JV with EHL to implement smart metering projects in India and globally.
The agreement has been entered into to enable, inter alia, licensing by EHL to intellectual property rights (IPRs) of software products/solutions for smart meters and other industrial applications and further development of such products/solutions by a joint venture company of ATSFL and EHL, it stated.