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Hi CB,
I have found it hard to find an announcement stating a partnership between Cyan And Adani, or an award , but have found confirmation in the Nov 2022 Hardman report
Cyan " is viewed as a safe choice by the multiple new prime contractors bidding for the role of AMI Service Providers (AMISPs). This is borne out by the strong takeup of the company’s Omnimesh platform by new service providers
such as Adani and Monte Carlo. This is in addition to the established partnerships in the market, of which Genus Power Infrastructures is a key example. "
So unless someone else knows of any orders Adanai have awarded Cyan in the past , then we will have to wait until Adani begin awarding their 18 million meters pipeline to their chosen solution providers. GL Vas
https://cyanconnode.com/wp-content/uploads/2022/12/221109-Hardman-Cyanconnode-CYAN-Indian-smart-meter-programme-update.pdf
Just wondering which other company's approached Cyan earlier this year regarding manufacturing their models for royalty's.
Evolving go-to-market models
CyanConnode is considering approaches by third parties that are seeking to
manufacture modules using CyanConnode’s technology designs, in return for
royalty payments. These would represent particularly high-margin revenue streams
for the company, additive to the current core business, and consistent with multiple
opportunities available to scale the presence of the Omnimesh platform on an
indirect basis. The decision to allow Genus to manufacture modules on behalf of
CyanConnode comprises a similar initiative in terms of being intended to scale the
revenue base."
from hardman report march 2023
Wow, good find LT.
REC are very busy at the moment.
https://recindia.nic.in/
Genus ,"The company said that there is a possibility of seeing a "consistent and noteworthy surge" in order volumes over the upcoming quarters of the financial year 2023-24 as many state electricity boards (SEBs) have initiated the bidding process for the acquisition of smart meters).
The first bulge looks to be on its way,, which should be followed by the second bulge, the one we are most interested in...
GL Vas
Genus Power Infrastructures’ total order book now exceeds INR 17,000 crore (over $2 billion).!
"Genus Power Infrastructures announced today its arm has received a Letter of Award worth INR 3,121.42 crore for providing advanced metering infrastructure services.
The scope includes designing an advance metering infrastructure (AMI) system with supply, installation, commissioning, and facility management service of 36.27 lakhs smart prepaid meters and system meters, including DT Meters with corresponding energy accounting".
https://www.pv-magazine-india.com/2023/10/23/genus-power-wins-smart-metering-order-worth-inr-3121-42-crore/
I forgot to add that Intellismart have already awarded Cyan a take off order for 3 million modules, of the 11 million meters awarded to IntelliSmart for Bihar .
So if we are lucky , another 8 million could be heading our way.
"The order will support the smart metering deployment for South Bihar Power Distribution Company Ltd. (SBPDCL), a utility located in Bihar, India. This marks the fourth order received under a Strategic Framework Agreement for 3 million modules, which was signed in February 2023".
So to recap in Bihar.
IntelliSmart are now L1 for 11 million smart meters.
Genus was awarded 1 million, assume its the contract with Cyan.
which leaves approx 3 million, to secure Meters .
This from Airtel explains a further 1.3 million of the Secure Meters award
"Airtel partners Secure Meters to deploy 1.3 mn NB-IoT-powered smart meters in Bihar".
Read more at:
https://telecom.economictimes.indiatimes.com/news/industry/airtel-partners-secure-meters-to-deploy-1-3-mn-nb-iot-powered-smart-meters-in-bihar/99729791?redirect=1
try this.
https://images.assettype.com/bloomberg*****/2023-07/9fa1869c-1d73-422c-b3d2-8aa8e18e25c6/icici_securities_genus_power_company_update.pdf
according to this genus note the remaining approx. 4 million meters outstanding seem to have been awarded to secure meters have been awarded genus for 1 million ( being supplied by cyan) , and secure meters for 2.6 million meters.
with the remaining 11.2 million meters under bidding at the time of the report ( july 23) , which we now know has gone to intellismart according to my link regarding the legal challenge.
https://images.assettype.com/bloomberg*****/2023-07/9fa1869c-1d73-422c-b3d2-8aa8e18e25c6/icici_securities_genus_power_company_update.pdf
table 4 bihar
Which if you do get full access to the intelliSmart, K- exchange link i posted earlier- it states in the " Awarded" list that 150 Lakh have been awarded in Bihar for both NBPDCL & NBPDCL discoms.
so another 4 million awarded to someone else.
Evening LT,
So IntelliSmart has been finally ( in August 23) declared as the L1 bidder for 112 Lakh ‘Smart Prepaid Meters’ in rural areas of Bihar , which is i think is over 11 million smart meters !
A little more info on outcome between North Bihar, IntelliSmart and MoneCarlo .
Supreme Court affirmed the judgment of the High Court, which in turn had upheld Montecarlo’s disqualification
https://webcache.googleusercontent.com/search?q=cache:YTN_Mhs963kJ:https://bwlegalworld.businessworld.in/article/JSA-Represents-IntelliSmart-Infrastructure/26-08-2023-489032&hl=en&gl=uk
Discover the latest updates on smart meter tenders across India in the 29th edition of K-Xchange.
https://www.linkedin.com/posts/intellismart_k-xchange-activity-7119643640829767681-uoSH
CyanConnode was awarded a contract for 600,000 Omnimesh modules to support a smart metering deployment at Pachimanchal in Uttar Pradesh, in May 2023.
It seems that proposals for projects exceeding Rs 65,000 crore are scheduled for approval in October .
"The installation of smart prepaid meters is planned for 2.69 crore consumers, with an additional 15.26 lakh smart meters to be fixed on distribution transformers and 20,874 feeders. The Government of India has approved Rs. 18,885.48 crore for this metering project, with 15 per cent funded by the state government and the discom (Rs. 2,832.82 crore), and the remaining Rs. 16,052.66 crore allocated by the Central government."
https://www.dailypioneer.com/2023/state-editions/govt-enhancing-power-infrastructure.html
HI LT, and all Just for Balance.
The chart below gives a good indication of which company's were top three in awards of smart meter contracts in India as of 14th July 23.
Market share snapshot as of July 10th 23
IntelliSmart at 11.5 million smart meters = 26%
Genus at 11.5 m meters =14%
Apprava at 5 million = 12%
Others = 48%
Out of a total number of smart meters then allocated of approx. 45 million
There has been good contract wins by Genus since then.
So In July 23 IntelliSmart and Genus between them had a 40% share, of the potential total 250 m rollout.
If they where to continue as this rate, and IntelliSmart contracted Genus to manufacture their meters then Genus would have a manufacturing base of approx. 40% of the total 250 m smart meters which would be approx. 100 million meters plus Genus have stated recently they aim to grow their "market share" in future and this also does not take into account of any of the other AMISPS, utilities an infrastructure players whom may select Genus to manufacture their awards in future.
https://twitter.com/_Sandeep09/status/1678422046584238080/photo/3