IFC-led consortium commits ₹2,600 crore to Gemstar Infra for Rajasthan smart meter rollout
Type: Financing · Technology: Transmission · Country: India · Announced: 2026-06-19
An IFC-led consortium committed ₹2,600 crore ($274 million) in financing to Gemstar Infra for the deployment of 13.6 million smart meters across Rajasthan, India. The funding targets the modernization of the state's power distribution infrastructure under the Revamped Distribution Sector Scheme (RDSS), aiming to enhance billing accuracy and reduce distribution losses. Gemstar Infra will execute the rollout, which aligns with India's broader energy transition goals by improving grid efficiency and consumer transparency. The project is expected to directly benefit over 13 million households and businesses in Rajasthan by enabling real-time energy monitoring and reducing commercial losses. The financing structure includes participation from the International Finance Corporation (IFC), which led the consortium, alongside other lenders not explicitly named in the article. This transaction underscores the critical role of smart metering in India's power sector reforms and the growing involvement of multilateral institutions in financing grid modernization initiatives.
Counterparties
- Gemstar Infra (Borrower)
- IFC (Lender)