1. Fourth Partner Energy
Overview: Hyderabad-based #FourthPartnerEnergy offers turnkey rooftop solar energy solutions. Established with the aim of reducing energy costs, the startup is rapidly growing in the solar sector.
Funding & Expansion: They raised $125 million from Nordund and The Rise Fund, enabling them to strengthen their presence across South and Southeast Asia.
Projects & Market Presence: They manage a portfolio of 550 MW across distributed and open access solar portfolios. The company also operates in Sri Lanka, Bangladesh, and Vietnam, and has partnered with Indika Energy in Indonesia for corporate solar solutions.
Future Plans: Fourth Partner Energy aims to achieve 3 GW of installed solar capacity by 2025 and is expanding its capabilities in energy storage and EV charging infrastructure
2. ReNew Power
Overview: Founded in 2011, ReNew Power is a significant player in creating utility-scale wind and solar projects, hydro projects, and distributed solar energy projects.
Capacity & Projects: As of November 2021, ReNew Power had a renewable energy capacity of approximately 10.3 GW across India, including both commissioned and committed projects.
Market Growth: With India's target of achieving 500 GW of non-fossil fuel energy by 2030, ReNew Power is well-positioned for growth
3. CleanMax Solar
Overview: Established in 2011 by Gajanan Nabar, CleanMax Solar specializes in rooftop and open access solar projects for the commercial and industrial sectors.
Key Clients: They have developed projects for leading companies, including Adobe India, Volvo India, Tata Motors, United Breweries, ACC, SKF, and the Mahindra Group.
Funding: CleanMax raised ₹275 crore from Macquarie-managed UK Climate Investment to expand its renewable energy portfolio
4. Azure Power
Overview: Azure Power, founded in 2008, is a sustainable energy solutions provider and one of the prominent renewable energy players in India.
Operational Capacity: The company has over 2.6 GW of operational capacity and an additional 4.8 GW under development. Its aim is to reduce 230 million tonnes of global emissions by 2030.
Future Vision: With a strong renewable energy base, Azure Power is committed to delivering high-performance energy solutions
5. John Cleantech
Overview: John Cleantech, founded in 2014 by an IIT Bombay graduate, offers rooftop solar panels designed to help clients reduce energy costs.
Financial Assistance: They assist their low-income clients with easy access to solar loans, partnering with banks like IDBI Bank.
Funding & Projects: John Cleantech secured $450,000 in seed funding in October 2017 from Globe Vester, a venture capital firm
These startups exemplify India's rapid progress in solar energy, contributing significantly to the country's renewable energy goals. You can learn more about these companies and their contributions at YourStory.
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