Welcome Guest

Businessex.Com
Home News SunTerrace secures first round of funding for rooftop solar projects

SunTerrace secures first round of funding for rooftop solar projects

Tags: SunTerrace Energy, Sunergy Investors, Rooftop solar, angel fund

May 20, 2015 | COMMENTS ( 0 )

SunTerrace secures first round of funding for rooftop solar projects

SunTerrace Energy, a solar developer specialising in development, financing, installation and operation of solar energy plants for commercial and industrial customers, has raised its first round of equity investment from US fund - Sunergy Investors LLC.

The company has executed power purchase agreements aggregating more than 1 MW with leading corporate in India and has an additional 25 MWs in development over the next year.

SunTerrace Energy is co-founded by Vinay Rustagi, MD, BRIDGE TO INDIA, a solar consulting firm and Sanjay Bhasin (who earlier worked Nokia and Samsung). The company designs, develops, finances, installs and operates rooftop solar energy plants for large scale commercial and industrial clients. It is on track to develop rooftop solar plant installations aggregating 100 MW across India by 2018.

Vinay Rustagi, Founder, SunTerrace, said, “Rooftop solar is a great choice for industrial and commercial consumers in India to help reduce their energy costs and improve operational reliability. SunTerrace Energy’s innovative commercial structures and operational service commitment to our customers differentiate us from others. We offer our clients attractive financial savings over grid costs in addition to the environmental benefits of green energy.”

“SunTerrace Energy is quickly emerging as a leader in the rapidly developing solar sector in India,” said Ankil Lalu, of Sunergy Investors LLC. “The company’s management team has already demonstrated its strong ability to build high quality customer relationships and successfully execute projects. The company has a pulse on the solar market in India and is thus able to deliver projects and structures that meet its customers’ needs.”

With grid tariffs rising across the country and notoriously unreliable grid power, the rooftop solar sector is expected to help transform how Indians generate and consume electricity. There is an increasing awareness of the need to reduce carbon emissions and improve electricity reliability, but the investment requirements in the sector are very high.  Hence, the outsourced package solution provided by SunTerrace Energy presents customers with a low risk way to manage the electricity bills and improve reliability.

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....