COMPANY OVERVIEW
Background: Founded in 2015, the Company is a solar contractor primarily involved in engineering, procurement and construction (EPC) of Government’s PM KUSUM scheme and other industrial projects across India.
Track-record:
EPC Model: 180 completed projects across India and Kenya.
Independent Power Producer Model: 157 MW under development in Rajasthan; additional 24 MW in Karnataka
Traction: The company filed DRHP at BSE to launch SME IPO worth ~$12M in Sep-2024. In readiness for its IPO, the company is rapidly increasing its presence across India and recently emerged as the lowest bidder in IPP projects in Karnataka. The company is also in the process of developing Solar Parks for Captive Open-Access Consumers in Rajasthan and Karnataka.
USE OF FUNDS
- Development of Solar Parks in Rajasthan and Karnataka
- General Working Capital Requirement for Various Projects
POTENTIAL IMPACT
The company aims to accelerate the solarization of commercial and industrial customers pan-India to lower greenhouse gas emissions.
FUNDRAISE OVERVIEW
Deal Size:
Deal Type:
Financing Type:
US$5 - US$10M
Within 6 Months
Debt
ACTIVITY
Sector:
Country:
Renewables (Wind / Solar / Hydro)
India
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