Smart metering company IntelliSmart has won a Rs 500 crore order from the Assam government to install about six lakh smart meters in the state, a top company official said Wednesday.

In this regard, a Letter of Award (LoA) was awarded to the company from the Assam Power Distribution Company Ltd (APDCL) on Monday to install the meters in 19 circles, Anil Rawal, MD and CEO, IntelliSmart told PTI during an interaction.

This was the first time that competitive bids were invited for any smart metering project on Totex mode (capex + opex), and Assam gets the distinction of leading the smart metering drive of the country on competitive model, he said.

With the bagging of the order, IntelliSmart becomes the first company in the smart metering segment to undertake the smart pre-paid metering project through bidding route, Rawal said.

Sharing details of the project, Rawal said it will be implemented in ''Totex mode under the Design Build Finance Own Operate and Transfer (DBFOOT) arrangement and maintain the Advanced Metering Infrastructure (AMI) system for a total contract period of about 9 years.''

The project will cover Nagaon, Morigaon, KANCH, Cachar, Badarpur, Jorhat, Golaghat, Sibsagar, Dibrugarh, Tinsukia, GEC-I, Kokrajhar, Bongaigaon, Barpeta, Rangia,Mangaldoi, Tezpur, North Lakhimpur and GEC-II circles of Assam.

He further said, ''This shall entail an investment of about 500 crore in the state for enabling smart metering in pre-paid mode and would usher the transformation in the power distribution in Assam through the digitalisation process.''

Smart metering shall create systemic efficiency improvements in financial and operational health of discoms, along with consumer empowerment by giving them control on consumption based on their capacity and needs, as well as building transparency by providing regular data on their consumption, he said.

Gurugram-based IntelliSmart Infrastructure Private Limited (IntelliSmart) is a joint venture of National Investment Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL).

It is into the implementation of smart meters through BOOT (build, own, operate and transfer) model.