ENGIE has purchased 90 per cent of Simpa Energy India from its parent company, Simpa Networks, Inc, gained a controlling stake in the Indian business, and also made an investment into Simpa Energy India to accelerate further growth.
The move reinforces ENGIE’s commitment to decentralized renewable energy solutions globally and supports India’s rapid transition to clean power.
Simpa Energy India is the leading rural rooftop solar provider in India, selling solar home systems (SHS) to households and small businesses in rural areas of Uttar Pradesh, Bihar and Odisha.
It sells solar power systems on financing to households and shops in rural India.Customers make a small initial payment to have the solar PV system installed, then it’s simply pay-as-you-go for the electricity.
Simpa mimics the compelling pricing model of pre-paid mobile phones. But there’s an important twist: These small payments for energy service also add up towards the total purchase price and, once fully paid, the customer owns the system, enjoying clean, reliable, electricity for free.
Reference- ET, Simpa Networks website