India’s strategic geographical location is a boon to all solar energy companies in India and thus solar startups in India is on boom and so is funding to their emerging solar generating ideas throughout the country. Its a fact that most of the Indian geography see a lot of sunlight throughout the year and this makes India a solar power generation hub for lot big and startup companies.
Helion Venture Partners, has invested in solar power company Azure Power, which is one of the most successful solar power generating company in India operating across various states in India, both in urban and rural areas.
Mera Gaon Power (MGP), a Lucknow-based startup provide solar microgrid to provide 2 light bulbs and a mobile charging point to households that are currently without power. Mera Gao Power builds, owns, and operates micro grids in Uttar Pradesh, India serving off-grid villages with high quality, dependable lighting and mobile phone charging services. By tailoring its micro grid design to meet the specific needs of poor, off-grid households. MGP serves more than 65,000 people and 13,000 households
In Kolkata, ONergy operates eight renewable energy centres and provides a range of products, from solar lanterns and solar home systems, to solar power installations, in the process, reaching about 700 villages. ONergy has raised the first round of investment from Halloran Foundation, Rianta Capital, CIIE(IIM Ahmedabad) and Swedish International Development Agency and for the second round of investment they are expecting around 3 crores by the end of this year.
Naturetech Infrastructure is another solar startup based out of Lucknow, UP and just four-year-old, offers electricity to around 25 villages all over Uttar Pradesh and Bihar states if India by producing power directly to homes and SMEs. The startup has plans to install 10 more solar generating off-grids by the end of this year and generate revenue of Rs 100K (USD$ million) by the end of the current fiscal year.
Ecolibrium on other hand is a Ahmedabad based solar-energy startup of another kind, it actually manage the mis-managed energy and deliver it in smarter & efficiently, as a matter of fact around 20% of total industrial power consumed go wasted or mismanaged. Ecolibrium provide distributors smart grid equipments so as to deliver electricity from suppliers to consumers using two-way digital technology to save energy, reduce cost and increase reliability and transparency. Ecolibrium is first smart grid pilot in the country in 2010, in participation with the Gujarat Government and Torrent Power Ltd.
SolarTown Energy Solutions is Chennai based solar power product startup selling products ranging from Solar Home System, telecom tower grid products, building roof-tops, energizing parking-lots and industrial off-grid as well. SolarTown has sold about 40 product (in the price range of between INR 25,000 – INR 2,50,000) systems all over Tamil Nadu. The company is now looking to raise funds of around of $500,000.
Aspiration Energy is yet another Chennai based startup offering solar solutions for industrial process heating and solar powering of telecom towers on a unique monthly performance based energy charges model – PAYS (Pay As You Save). Aspiration Energy is supported and seed-funded by the Renewable Search program (RE:Search) jointly administered by IIM Ahmedabad’s (IIMA) Centre for Innovation Incubation and Entrepreneurship (CIIE) and Ministry of New and Renewable Energy (MNRE).
Installed PV based solar capacity India (Source: BridgetoIndia.com)
In an analysis by Climate Connect shows that Indian states and union territories had a target to procure 3.553 billion kWh of solar-based electricity in FY 2012-13 but would have managed to procure only about 1.576 billion kWh. This analysis point that more solar energy generation is required and the facts cannot be ignored that startups working around solar energy generation are multiplying as well, nonetheless few more solar startups in India wouldn’t hurt anyways.
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Hi , Great article. One of my friend from IIT has just started the same business in Rajasthan. He has seen a significant rise in the revenue in recent months. I am still not able to figure out that how sustainable is this business.?
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