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Morning CB,
I see where you are coming from ...but surely the scalability issue and costs involved in being successful in the India rollout would have been discussed a long time before CC were invited to integrate with IntelliSmart, or Genus or any AMISP or utility for that matter.
I say this but i am none the wiser on where the extra funds, if required will come from.
It would not only be absolute suicide, to have no financial plan in place to scale up but also i would have thought it would be one of the main questions / criteria that each AMISP, and AMISP contractor and those on the empanelment list would need to prove.
This might be naïve of me but if CC suddenly won tenders amounting to millions of smart meter units , needing to be installed in next 24 months,. Why, couldn't Genus fund some of them, or the entire process, and pay CC on either manufacture, or delivery to customer.
If this is viable what is stopping any meter manufacturer who has been working alongside the CC team , in onboarding the CC technology into their smart meters doing exactly the same, to secure large orders...
How many meter manufacturers are with CC now. Was it something like thirteen. Why so many? GL Vas
Morning ITT,
Just for balance, one month earlier on 10th October 23 Cyan received another order form IntelliSmaret for 300,000 Omnimesh Modules .
And yes, a month later IntelliSmart on 12th November 23 selected Trilliant " as ONE of its software partners for its Head-end System (HES) cellular implementations."
And it was nearly a month later, on 8th December 23 that Gervais Williams from Miton group stated how "We’re tremendously upbeat about CyanConnode.", and my guess is at that time would have been fully aware that both Trilliant and Cyan where working alongside IntelliSmart. GL Vas
https://www.businesswire.com/news/home/20231113692468/en/IntelliSmart-Selects-Trilliant-as-a-Software-Partner-for-Head-end-System-Implementations-across-India
This back in April 22 , pretty much tell us their plans for investment to cover the 20million smart meters they aimed to win.
"Intellismart, a joint venture between Energy Efficiency Services (EESL) and National Investment and Infrastructure Fund (NIIF), sees an opportunity to install over 20 million smart meters in the country in the next 2 years. The company would need to raise around Rs 10,000 crore in loans to fund the installations."
Just last week.
IntelliSmart installing 20 million smart meters in India
Sounds like they have reached their target and now need to fund it, or fund what they do next.
https://www.smart-energy.com/industry-sectors/smart-meters/intellismart-installing-20-million-smart-meters-in-india/
Hi LT,
Thanks for the info on IntelliSmart . Interesting move and probably part of the IntelliSmart two year plan.
The article below was published 18 months ago but is a really interesting read, especially around about IntelliSmart and their ambitions.
Bearing in mind this article is approx. 18 months months old. I think the quote below from Rawal is significant...
"the company is looking at the next two years as a period of rapid-fire expansion. “We are geared up to contribute as much as possible. We have commissioned 2.5 million. Along with EESL, we have a combined pipeline of 8.6 million units. We are targeting 20 million in the next two years,” Rawal explains."
IntelliSmart are aiming for at least 20 million smart meters and within the next six months to a year.
GL Vas, and just to add as an investors here, if we can't be positive now, on the cusp of a 250 million Indian meter opportunity, then i can't imagine a similar opportunity presenting its self in such magnitude happening again for a very long time.
https://businessindia.co/magazine/intellismart-all-charged-up
I imagine FDBK will involved.
https://www.find-tender.service.gov.uk/Notice/030769-2023
and here afew days ago
" new digital procurement framework is expected in January 2024 to support practices in accessing “high quality online consultation, messaging and booking tools”.
https://htn.co.uk/2023/12/08/nhs-england-december-board-focuses-on-operational-financial-digital-primary-care-and-federated-data-platform/
and more here
"The scope of the digital pathways services and systems required will cover care navigation; online consultations and online patient/service user request reporting; cross-organisational appointment booking; prescription-ordering; video consultations; communication management; and enabling citizens to view content from their electronic patient record online (with this function to integrate with the ‘Patient Information Maintenance – GP Solution’ capability)."
https://htn.co.uk/2023/10/19/nhs-england-opens-300-million-procurement-framework-for-digital-pathways-in-primary-care-it/
Anyone have any ideas whether FDBK are involved in this tender. GL Vas
"In the Kumaon region, we have taken up a project of over Rs 800 crore to install ..
Read more at:
https://energy.economictimes.indiatimes.com/news/power/adani-group-to-invest-rs-2-5k-crore-in-uttarakhand-in-cement-smart-meters/105853137
December 9, 2023, 11:54 [IST]
You may have to translate from Hindi.
Smart meters are being introduced in Tamil Nadu to eliminate the defects in electricity meters.
While an agreement was signed with PFC Consulting Company for this purpose, now, the Electricity Department has given permission to PFCCL to install prepaid electricity meters. For this Rs. 393 crore has been sanctioned.
In this regard, the order issued by the Pro-Secretary of Puducherry reads:
"Prepaid smart meters will be installed in the houses in Puducherry using the Dotex system. Power Finance Corporation Consulting Company (PFCCL) has been selected as the agency to implement the project. The Central Home Office has also given permission for this.
https://webcache.googleusercontent.com/search?q=cache:YJ5Yc2lRjDYJ:https://tamil.oneindia.com/news/puducherry/free-electricity-and-puducherry-government-approves-rs393-crore-for-prepaid-smart-meter-installation-564403.html&hl=en&gl=uk
Thanks LT,
Just an observation and regarding this IntelliSmart award
"Letter of Award (LoA) for 46 lakh prepaid smart meters meant for the entire Surat and Baroda districts in Gujarat".
I noticed that Kimbal Technologies, whom where previously known as Crystal have had a job advert out for a project manager specifically in Surat and Baroda districts in Gujarat !
Therefore, looks likely that Kimbal are involved, i know they have a RF solution and have deployed smart meters in Assam, Bihar, Gujrat, Jammu & Kashmir and others over the past few years.
As we know that IntelliSmart was awarded AMISP for Surat and Baroda, then does this mean that if Kimbal are involved they are IntelliSmarts subcontractors for this particular regional award in Gujarat ?
If so, its a first sub contractor award i have found, and interestingly has not yet been announced publicly, i think - so in all likelihood there could be many sub contractor awards already made , and not yet announced , and that goes for Cyan also, of course.
https://www.naukri.com/job-listings-project-manager-kimbal-technologies-rajkot-gujarat-surat-gujarat-vadodara-baroda-gujarat-5-to-10-years-171123002398
Not sure if this is a new award for IntelliSmart . Its published today!
https://indianexpress.com/article/cities/ahmedabad/intellismart-gets-orders-for-4-lakh-smart-power-meters-from-gujarat-9057944/
Sounds to simple. Why did MIton continue to hold their shares these past few months, probably aware of further dilution. Why didn't they sell some share for nearly double in August 23? Why are they according to some here, thinking of selling now at such a low share price? Where is the business or sense in this.
Happy to be educated by anyone here who knows more than me. Just need the logic of a sell strategy particularly at this sensitive time in the RDSS rollout - explained to me.
At the present time we have no evidence that this is true... do we?
Pleased to be enlightened.
Hi LT,
I imagine you are referring to Gervais Williams from Milton UK Smaller company's fund that has large investments in Cyan, interview published 29th November 23. If you join Gervias at 2 mins 30 sec, just before he discusses his very positive views on Cyan along with a closing line "We are tremendously upbeat about CyanConnode".
He admits this year has been slow, and the orders have not yet come through yet, but then goes on to importantly emphasise ......that no one else has one these orders yet also....everything to play for still. Good to hear.
Thanks LT, for posting this interview.. GL Vas
search
"UK Smaller Companies Investment Opportunities with Gervais Williams (VIDEO) Emily Johnson November 29, 2023
7:12 am"
Here is some further information.
It seems that IntelliSmart have so far won around 17 million meters in various contracts throughout India.
https://indianpsu.com/intellismart-inks-countrys-largest-smart-metering-contract-under-revamped-distribution-sector-scheme/
HI Inthetin,
Just a quick search found the CC Final Results for the Year Ended 31 March 2023 , published on 26th July 23. So just a few months ago everything seemed to be OK with Genus.
" The third order, CyanConnode's largest order in its history, was for 1 million units, received by Genus for a deployment in South Bihar. To the end of March 2023, a total of 81,000 modules and associated gateways had been shipped against this contract, with a further 109,000 shipped during Q1 FY24, bringing the total modules shipped against these contracts at the end of June 2023 to 190,000."
If any significant material change to the original MOU then I would have thought it would have to be announced in the same manner as the original award was announced.
So hopefully, for now just radio silence regarding who Genus will award their contracts too.
Morning Tony,
That's a good point regarding the rewards for fast track installations before December 2023.
I think this is the actual wording
"To incentivize the States/UTs to fast-track installation of prepaid Smart Meters by December 2023, an additional incentive of 7.5% of the cost per consumer meter or Rs. 450 (whichever is lower) shall be available. For “Special Category” States the additional incentive shall be 11.25% or Rs. 675 per consumer meter (whichever is lower)."
Its possible that both Intellismart and Genus both tried to take advantage of this offer when they set up the Framework agreements with Cyan - at that time they did no know how many they would be able to install, yet had some type of goal.
It is not as if they have to install a minimum amount in all areas / regions and utilities that they have won tenders, just get permission from utilities to install as many as possible before end of December 23 - so they could all be installed under one Utility in theory or spread far and wide across many.
So maybe the Intellismart and Genus framework agreements where a way of ensuring quick supply by year end 2023, to access Incentives. Will there be more incentives for 2024?
Once meter supply was in place it would be down to contract wins, and permissions to install from the utility / customers.
Just a thought on the back of your own earlier post. GL Vas
Does anyone wonder why the there is no news ( as far as i can see) regarding the early AMISPs whom where awarded a contract this last summer or earlier ...they have not yet announced their sub contractors ? could it be due to competition ! , even though sub contractors have been chosen, the radio silence in announcing these awards to sub contractors will continue to be kept under raps until the bulk of contracts are announced.
I only mention this because i have not found a single award that looks like a AMISPS award to a sub contractor.... even though i do not know how this would be presented to the press, their is a very obvious lack of news from the millions of meters awarded to AMISPS much earlier in the year ...
Genus are awarded new contracts on a regular basis but many do not identify the region or utility that it is related too.
So why would they announce sub contractors at this stage !
https://www.bqprime.com/business/genus-power-bags-orders-worth-rs-3115-crore-for-smart-meters#:~:text=The%20company%20received%20two%20letters,in%20order%20volume%20th...