Adani Energy Solutions arm to form joint venture with UAE-based Esyasoft Holdings

New Delhi: Adani Energy Solutions on Wednesday said its arm Adani Transmission Step-Four (ATSFL) will form a joint venture with UAE-based Esyasoft Holdings (EHL) to implement smart metering projects in India and abroad.

ATSFL and EHL would hold a 49 per cent and 51 per cent 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 26th December, 2023 for 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.