Power News We love to talk!

AUG 26 2015

Infuse Ventures invests in solar gear portal ezysolare.com

  • Economic Times, ET Bureau / Hyderabad
  • Created: Wed 26th AUG 2015

Infuse Ventures, a sustainability and clean tech fund backed by IIMA's Centre for Innovation, Incubation and Entrepreneurship, New & Renewable Energy Ministry, Telecom Development Board, IFC, BP, Godrej Industries, ICICI Bank, Sidbi, BoI and Union Bank have made an undisclosed seed investment in Ahmedabad-based online solar products and services marketplace startup ezysolare.com.

Founded in April this year by IIT Roorkee graduate Puneet Singh Jaggi and his brother Anmol Singh Jaggi, ezysolare.com provides an online platform for engineering and procurement for equipment used to build solar power projects, thus connecting solar installers with manufacturers of solar equipment. The startup concentrates on rooftop solar market to begin with.

Ezysolare.com wants to make it easy for people to go solar with the aim of becoming the back office for every solar installer and installation. In the market, ezysolare.com expects to touch Rs 35,000 crore annually in the next two years if government's target of 40 GW of solar rooftop by 2022 is to be achieved. The company believes that although huge growth is expected in the solar rooftop market, it still remains fragmented, non-standardized and often opaque in nature, which makes it ripe for disruption.

Ezysolare.com intends to be the neutral platform of choice for both customers looking to get solar installed and for installers looking for more support on engineering and procurement, by providing efficiency, credibility and transparency.

"The online platform approach that 'ezysolare. com' has taken is a great way to address the pain points of the solar installers, from getting customer leads to designing of solar plants to procurement of equipment. Even by conservative estimates, the country has over 1000 number of solar installers today, implementing over Rs 1500 crore worth of solar rooftop projects annually, who can already use ezysolare's services, and the market is fast expanding," said Amber Maheshwari, vice president, Infuse Ventures.

Tags

Renewable Energy Energy Power solar power Solar

Related News

  • ArcelorMIttal mulling setting up 600 MW solar farm in Karnataka  Read more
  • BHEL commissions captive solar photo voltaic power plant in Trichy  Read more
  • Petroleum regulator invites bids for 86 city gas contracts, eyes Rs70,000 crore investment  Read more
  • Over threefold jump in Indias solar capacity in past two years: Piyush Goyal  Read more
  • Haryana discoms to generate 165 MW solar power in 2016-17  Read more
  • Bihar sixth state to join UDAY, benefit pegged at Rs 117 crore  Read more
  • ONGC to invest Rs 5,000 cr in 4 coal bed methane blocks  Read more
  • Adani Power to acquire Avantha group's Korba project for Rs 4,200 crore  Read more
  • EPFO, LIC to back power utility bailouts  Read more
  • Power Min plans review of electricity regulators  Read more