T.N. govt cancels smart meter tender awarded to Adani Energy Solutions
The Hindu
TANGEDCO cancels smart meter tender due to high cost by AESL, amidst controversy involving Gautam Adani and Adani Group.
The Tamil Nadu Power Distribution Corporation (TANGEDCO) has cancelled a global tender floated for procuring smart meters, citing the high cost quoted by Adani Energy Solutions Ltd (AESL).
Also read: Did not meet Adani, reports false: T.N. CM Stalin
The tenders were floated as four packages in August 2023 for providing the smart meters under the central government's revamped distribution sector scheme.
Also read:No commercial link with Adani Group companies, says Tamil Nadu Electricity Minister Senthilbalaji
AESL, a BSE-listed firm was the lowest bidder for package 1 of the tender covering eight districts, including Chennai, and involved installation of over 82 lakh smart meters, a source said.
The tender was cancelled on December 27, 2024, as the cost quoted by AESL was reportedly higher.
A re-tender is likely to be floated. Tenders for three other packages were also cancelled, he said without divulging further details.
Bitcoin, the world's biggest cryptocurrency, sank this week, wiping out gains sparked by Donald Trump's presidential election victory in November 2024.
Follow live updates from The Hindu, as India and U.S. announce that they have reached a framework for an interim trade agreement on February 7, 2026
A record allocation of ₹3.5 lakh crore and a higher share of local grants signal a policy shift towards India’s rapidly urbanising towns and cities
The White House announces a framework for the India-U.S. interim trade deal, focusing on tariff reductions and mutual market access.
MRF's Q3 net profit more than doubles to ₹692 crore, driven by strong sales and increased demand following GST rate cuts.
RBI proposes compensation up to ₹25,000 for online fraud victims, simplifying recovery for small-value fraudulent transactions.
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) after a detailed assessment of the evolving macroeconomic conditions and the outlook, on Friday voted unanimously to keep the policy repo rate unchanged at 5.25%. The MPC also decided to continue with the neutral stance.
Mitsubishi Electric inaugurates a ₹2,100-crore manufacturing unit near Chennai, boosting local production of air conditioners and compressors.
The Centre defines ‘deep tech’ startups in India, emphasizing R&D, novel IP, and extended timelines for innovation
Tata Steel's Q3 profit surges to ₹2,730 crore, with total income increasing to ₹57,503 crore year-on-year.
Stock markets rise as RBI holds interest rates steady; ITC and banks lead the recovery amid volatile trading.
Rupee falls 36 paise to 90.70 against the dollar, impacted by geopolitical tensions and rising crude oil prices.
World food prices decline for the fifth month, driven by drops in dairy, sugar, and meat, reports FAO.