Freyr Energy Elevates 18 Crore Investment from C4D, Total and also Schneider

• Freyr Energy, a solar rooftop business based in Hyderabad, introduced yesterday that it has actually safeguarded an equity financial investment of Rs 18 crore from Total Carbon Neutrality Ventures, Schneider Electric Energy Access Asia and also C4D Partners.

The company functions towards supplying modern technology remedies to assist home owners as well as MSMEs shift to solar. Saurabh Marda, Taking Care Of Director of Freyr Energy, said in a declaration that the funds will certainly be used to increase development as well as better boost client experience.

In July last year, the firm launched SunPro+, an app that enables clients to learn about solar, order a system, track setup progress and screen system efficiency on their own, making the whole procedure of having a solar system straightforward and smooth. "Freyr Energy has completely digitalised the client trip thanks to its exclusive software application setting SunPro+. We are encouraged that this ingenious software will certainly ease the procurement of roof solar customers and help with the entire consumer journey from purchase through to funding, execution and also after sales solution. We see SunPro+ as an essential success aspect for Freyr's development," stated Florian Temime, Principal, Total Carbon Neutrality Ventures, the financial backing arm of French energy gigantic Total.

Total Carbon Neutrality Ventures is focused on finding, financing as well as promoting high-potential startups that provide opportunities in the push to developing a low carbon future. Renewables, dispersed energy, brand-new flexibility, energy access, energy storage space, bio-plastics & recycling, artificial intelligence, and also IoT, comprise its present locations of interest for financial investment functions.

Last year, simply 719 MW of roof solar capability was added in 2020, which is a 34% decrease year-over-year.

Speaking of the present investment, Gilles Vermot Desroches, president of SEEA Asia and also SVP at Schneider Electric, said, "Through the ingenious and also scalable SunPro+ service, Freyr Energy can add to mass-market fostering of solar power, generating significant environmental influence while producing job opportunity within their network of suppliers." Schneider Electric Energy Access Asia is a mutual fund dedicated to early and also growth phase ventures in the energy access sector in South and Southeast Asia. It is handled by Schneider Electric as well as Norfund is a founding financier in the fund.

Arvind, companion, C4D Partners, discussed the business's follow-on financial investment by saying, "Through their innovation, Freyr Energy has the prospective to transform just how roof solar is offered and also taken care of in India as well as various other nations. Freyr Energy can bring much-needed debt consolidation in the sector." Capital 4 Development Partners purchases appealing, scalable and also impactful tiny and also medium business, mostly in India, Indonesia and also the Philippines.

A recent report by the Institute for Energy Economics and also Financial Analysis (IEEFA) shows that the nation's policymakers must establish plans combining rooftop solar as well as storage since the assimilation is ending up being significantly cost-effective for power generation vis-à-vis grid supply and also diesel generators.

Freyr Energy was founded in 2014 to aid provide top quality solar services to house owners and also organizations as well as deals with household as well as local business across 22 states. "Along with our existing investor C4D Partners, tactical investors like Total Carbon Neutrality Ventures and Schneider Electric Energy Access Asia give us not only capital yet global experience in the energy sector", Marda added.