CyanConnode signs £70m smart meter contract in Goa

CyanConnode Holdings PLC (LON:CYAN), a global provider of IoT communication and smart metering solutions, has updated that, further to its announcements on 14 April 2025 and 12 May 2025 regarding the Government of Goa’s Electricity Department’s contract award for its smart meter project valued at approximately £70 million, it has now signed the formal contract agreement for this project, to deploy approximately 750,000 smart meters.

As previously announced in May 2025 the Company’s subsidiary, DigiSmart Networks Private Limited, received the Letter of Award for the above project. In accordance with the requirements of the Revamped Distribution Sector Scheme, DigiSmart has now incorporated a Special Purpose Vehicle, GreenMeter Goa Private Limited, which, together with DigiSmart, has now executed the formal contract agreement for the project.

Following an initial kick-off meeting held with the utility to commence the contract, CyanConnode is now engaging with subcontractors and planning the rollout of the smart meter deployment.

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Written by: Amilia Stone

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