Solar power project startups ink deal for executions in the country

PuREnergy, a start-up offering connected solar devices and internet of things (IoT) based solar energy management solutions, has partnered with Abja Power, part of My Home Group, to execute 50 MW projects in the coming 12 months. Both the firms will float a Special Purpose Vehicle (SPV) to work on the projects for captive use, commercial rooftops etc. Nishant Dongari, founder of PuREnergy, said that “We will be floating a special purpose vehicle with Abja, wherein the investments would be made by the former while PuREnergy would take care of the technology part. Our present focus is on residential and commercial projects to complement the Smart City programs. We have plans to enter into large scale utility projects in the upcoming solar parks across the nation”.

Additionally, Roy Chowdhury, CEO of Abja Power, also displayed confidence in the deal and commented that “With this collaboration, we wanted to make difference in the solar energy sector by coming up with smart and innovative solar energy systems, which are controlled and operated by IoT technology”.

Solar energy has been on the forefront of energy revolution in the country. With Government of India’s focus on renewables and subsidized production, the per unit cost of energy from solar hit a new low this month. Buoyed by such conducive environment, startups such as PuREnergy are creating a bedrock for future growth of the sector.