Distributed Energy, a renewable energy aggregator with a large Indian market focus, announced one of its kind platform that connects credible renewable projects with investors.
After comprehensive due diligence on several metrics is performed, energy customers have their fundable projects listed on its marketplace.
Investors can explore and express interest in one or more of these at the click of a button. The platform has already delivered 5MW of energy to a range of companies in Southern India and Rwanda.
The platform also shared today that it has received Rs.10 crore in funding from Ramez Naam (Co-Chair of Energy and Environment at Singularity University) through an AngelList Syndicate and from Mount Meru Group, a leading African business conglomerate.
Access to capital for Indian companies in solar segment is limited. the company believes that this platform, by opening up a new, reliable channel for investors, will help unlock capital and thus accelerate the deployment of renewable energy across India.
The primary reason why the platform has gained quick traction is due to the economics of the model that works for both parties.
The platform plans to push for projects with standardized design and using certified engineers and equipment. After the project starts generating power, it will also manage the distribution of returns.
The returns on these projects is usually in excess 16% over the length of the power purchase agreement.
Reference- Economic Times, BusinessWire PR, Business Standard, Money Control