Reliance Infrastructure has signed an agreement with US-based Innovari on expanding Automated Demand Side Management (ADSM).
The MoU, inked during US President Barack Obama’s visit to India, will reduce power purchase for Reliance Infrastructure and ensure reduction in carbon footprints for consumers, Reliance Infrastructure said in a BSE filing.
“This further extends the existing strong business relationship between Reliance Group and companies from the United States such as Caterpillar, Bucyrus, Atlas Copco, Forst Solar, etc in areas of solar power, power generation equipment, LNG imports, coal mining, and entertainment,” Group President, Corporate Affairs, A Sethuraman said.
The company will approach Maharashtra Electricity Regulatory Commission (MERC) for furthering the ADSM programme. It will be extended to other high-end consumers in a phased manner after MERC’s approval.
“Innovari is excited to provide RInfra with an innovative platform that can immediately address many of the challenges they face in meeting its short-term capacity requirements and a long-term sustainable energy future,” Innovari President of India and Asia, Preetha Nair said.
In 2014, Reliance Infrastructure had partnered with Innovari to implement a pilot project in Mumbai to validate the customer and grid benefits of ADSM.
Reliance Infrastructure shares were trading 1.38 per cent up at Rs 447 during afternoon session on the BSE.