Ever since urbanization and industrialization have stepped up in action, the demand for energy has increased manifolds. The exponential rise in factories and automation has added to the cause. The conventional process of energy creation has not only rose stress in the environment but also degraded the quality of it. Thus it is inevitably necessary to stop the destruction and find the alternative fix. Nuevosol Energy Private Limited stepped into the act of revolutionizing energy chain in India. It was the first start-up to produce 1000Mw of solar energy, produced without causing any harm to the environment as well as consumer’s pocket.
Contents
Foundation
Nuevosol Energy private Limited got incorporated on 14 September 2011 and was founded by a BITS Pilani alumni Srinivas Rao Maganti and 4 IIT Madras alumnus Chowdary Krothapalli, Sriram Dasari, Nikhilbabu Pachipulusu and headed by Himamsu Popuri.
Products
Nuevosol provides a wide range of solar power harnessing solutions is it for setting up on the ground or on the rooftop of buildings. The products are quite scientifically designed to ensure optimum efficiency in generating power by accessing the required available parameters in the surrounding where the products are to be used.
Ground mounted products:
- Nuevo Ultima, it is a tilt structure which is designed for use in uneven terrain. It can last up to 25 years. The various structures of this design are:
- Hat on C structure, it can produce power ranging from 50Ws to 400 Ws.
- Hat on Hat structure, It is designed to suit any type of soil type.
- Dual pole Landscape orientation, It is designed to support rocky area.
- Nuevo Tilt, It is adaptable to incline at certain angles to receive the maximum intensity of sunlight.
- Nuevo Trac, This is designed to resist high wind pressure at certain inclinations and have wind sensors installed in them.
Roof-mounted products
- Nuevo Fix, this product is designed specifically to withstand high wind load up to 180kmph and have wind deflectors installed too.
- Nuevo Clamp, this product is designed for installation on a metal roof and has the capacity to withstand waterlogging.
- Nuevo Clip, It has a self-balanced design and doesn’t need any support for installation, it takes the least time for installation.
Business Model
Nuevosol follows a very simplified strategy, being an energy start-up, it has two modes to earn revenues either they charge for the amount of energy used or charge for the setup cost incurred by them. The model works on per unit of energy generated or 1.5 % of total cost per unit. The net margin earned through these models is nearly 8 to 12%. The company incorporates local contractors and engineers too and thus expanding and selling through them. It is not only restricted to household customers but also for commercial giants like Infosys, Oberoi Group of hotels, Azure Power, GMR, TATA and others.
Statistics
- It has successfully generated 2300 MWs of solar energy through its projects all across India.
- It generated more than 100 MWs of electricity and currently has 180 projects in over 22 states in India.
- It can generate solar power in almost all soil conditions and has generated 1290 MWs of energy.
- It has currently 87 employees and revenue of $US 11.9 Million.
Competition
The Nuevosol group is very passionate about working in this field and provides complete solar energy solution to its customers. It believes in working beyond the written agreements and provides full assistance for setting up the products in order to ensure optimal outcomes. The prime competitors in this field are Stroller Mounting Systems, Pennar Industries and others.