Sensing and control technologies firm Omron today said it aims garner revenue of $50 million (around Rs 330 crore) from its new integrated tamper detection solution.
The solution, conceptualised in association with Tata Power Delhi Distribution Ltd (TPDDL), will help utilities detect and curb the losses caused by power theft.
"This is world's first of its kind solution aimed at to addressing national level concerns of power theft in the electricity sector in India. We are in discussions for deploying the solution in India," Omron Electronic and Mechanical Components business division India Country Business Head Vinod Raphael told PTI.
He added the company expects to get $50 million business by 2020 from the tamper detection business.
Transmission and distribution (T&D) losses remain one of the major concerns for the power sector in India.
Various industry reports suggest that India ranks fifth globally in terms of installed capacity but more than 300 million people do not have access to electricity.
"Though it is difficult to reckon the proportion of power theft in the T&D losses, it is certainly one of the major concerns for the utilities. Omron's solution for smart meters is multi-functional and imparts a unique artificial intelligence for detecting all kinds of (electrical and non-electrical) tampering," Raphael said.
He said the government plans to install 35 million smart meters in the country by 2019, which will allow Omron to tap into various business opportunities.
"We will widen our customer outreach by associating with more utilities and contributing our bit towards developing a sturdy infrastructure in the power sector benefitting the utilities and the end-consumers," he said.
Source : business-standard.com