Smart metering company Calisen has boosted its portfolio with the addition of a further 1.3 million units.
The company, which completed an initial public offering in February, announced this morning (9 November) that it had been awarded preferred bidder status on the portfolio, taking its pipeline to 7.5 million.
The group already manages 5.7 million smart meters, giving it a revised pipeline for 2025 (the current deadline for the nationwide rollout) of 13.2 million. Calisen also manages 3.1 million non-smart meters.
Calisen is the parent company of Calvin Capital, which leases smart meters in return for a rental income over 10- 15 years. In August 2019 it acquired Lowri Beck, giving it capability to carry out meter installation and maintenance services on behalf of its energy retail customers.
Chief executive Bert Pijls said: “I am pleased to report that our expected smart meter pipeline has increased by over one million meters. This brings our projected portfolio at the end of the roll-out to 13.2 million meters, compared to the 11.9 million meters reported in August. Securing extra meter volumes in this way is testament to the great work of our team and our trusted collaboration with energy retailers, helping them deliver on their commitments under the government’s smart meter implementation plan.”