Ezon Energy forms a JV with Arcor for setting up solar power generation projects

Ezon Energy Solutions, a Coimbatore-based startup, has formed a strategic joint venture with Turkish solar development company Arcor to setup 1,000 MW of solar power generation projects in the country. The joint venture, to be named as Arcor Ezon, is expected to invest $1 billion in setting up the power units in southern India and Gujarat. Though the split of the investment done by the two parties isn’t disclosed, it is expected that Arcor would become an exclusive partner of Ezon in India going forward for all the solar related projects.

Founded by exBHEL technocrat SK Radhakrishnan in 2013, Ezon Energy has patented a three-axis tracker solar system that gives an output of 1.9 million units per MW per year as compared to 1.6 million units of energy from others in the market. It works on the ‘sunflower’ principal -the panel moves in the sun’s direction. Till now, the startup has installed 100 rooftop solar panels in India with 21-MW capacity and another 100-MW solar project is under execution. It had raised INR140 crore from Japanese investor Natori Nohisa to set up a 140 MW solar power project in Karnataka and Kerala.