Mantra- People, Planet, Profit
About: Globally, the company has installed over 250 MW of solar PV since its formation in 2008. Suntuity installs over 4,000 residential solar systems every year in the US. The Suntuity Group is currently working on delivering microgrid solutions in Southeast Asia and the Caribbean that operate autonomously from the utility grid.
These are the following solar projects by Suntuity, their first project is Nava Bharat Ventures in India :
- Blossom High School, Mumbai
- Nava Bharat Ventures, Hyderabad
- Meenakshi Infrastructure, Hyderabad
1. About Suntuity’s foray into Indian RE Market. What kind of solutions does it offer
Suntuity REI is affiliated with the Suntuity Group of companies, one of the fastest-growing renewable energy companies throughout the world. Suntuity REI provides utility-scale, commercial and residential solar energy, battery storage and renewable energy financing solutions for homeowners, business owners, and developers throughout India.
2. What kind of role Suntuity will be playing?
Suntuity REI is well-positioned as a key player in India's renewable energy industry, offering end-to-end financing, installation and system maintenance solutions for scalable renewable energy projects. In the past, Suntuity REI has delivered some of the highest efficiency solar energy solutions for various off-takers in South India. We recently completed the largest solar installation on an educational institution in Mumbai and have several more such projects in our pipeline. Suntuity will provide innovative financed solar solutions catering to the changing demands of the Indian market.
3. India has set an ambitious target of 100 GW of power generation from RE by 2022. What kind of market opportunities does Suntuity foresee?
We anticipate a significant increase in solar adoption and a sense of urgency and responsibility to take action as a result of the proposed target and the impending threats of climate change. Suntuity REI is part of a renewable energy conglomerate that has developed and installed over 250 megawatts of solar energy worldwide and has plans to both increase its installation capacity and deliver breakthrough solutions such as battery storage and water generation through its fully financed renewable energy solutions. As one of the key players in the industry, we continue to contribute towards making renewable energy both financially viable and available. Suntuity Foundation which is the non-profit branch of the Suntuity Group of companies provides impoverished countries with the help they need to produce self-sustainable energy.
4. What kind of challenges do you see for solar developers in India's open access niche?
From our perspective, Suntuity REI is positioned as an Energy company and as such it provides a great opportunity for us to be able to offer solar energy and storage solutions directly to energy consumers and it gives the consumer the ability to choose where their energy comes from, creating a level of independence and autonomy that wasn't available before. The challenge for developers in the past has been un-regulated or long term solar policies that may not be bankable regardless of with Open Access and the unrealistically low solar power price expectations that are not profitable and cannot be met by many developers over the past years including quality products and installation which can guarantee production for a period of 25 years. These are the biggest challenges that a majority of developers face in the Indian Solar market today, projects with a rate of return lower than you could receive from a savings account.
5. What is Suntuity’s distinctive value proposition that differentiates it from other industry competitors?
At Suntuity REI we are driven by prioritizing the mantra "People, Planet, Profits", which is a great way to align ourselves with our morals and values. Everything we do helps build a brighter future for tomorrow while building on our past-- our goal is to drive success, profit is a side effect of success and not our prime focus. This has helped us grow rapidly and sets us apart from our competitors that are often primarily motivated by profit.
6. Please tell us about Suntuity’s plans in regard to Indian Solar Market
Suntuity REI has positioned itself as a key player in the Indian Solar Market, providing a wide suite of financed renewable energy and storage solutions to multiple demographics. Our goal is to be one of the main contributors to the country's attainable renewable energy targets that will help both slow climate change and drive healthier living and economic conditions for our citizens.
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