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Tuesday, October 3, 2023

Meet the 4 friends who built a Rs.3 cr renewable power biz from Rs.10 lacs

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Four friends teamed up to form a renewable company with an initial investment of Rs. 10 lakhs. Find out how Ecomitram, which is now a Rs. 3 crore business, was built.

Solar power is a non-stop source of energy that is also environmentally benign and an excellent substitute for non-renewable sources. Four friends joined hands to establish Jaipur-based a renewable company start-up Ecomitram. These friends included Anuraag Verma, Ravi Saini, Rituraj Sharma, and Shashank Jain.

Nonrenewable energy sources are being depleted at an alarming rate, threatening the planet’s long-term equilibrium. Some resources on Earth are only available in limited quantities.

The rising scarcity of resources necessitates the use of nonrenewable energy sources. Nonrenewable resources will be depleted soon if we do not adapt to alternative techniques.

Ecomitram was founded to address this issue. It is a renowned service provider that offers beneficial solutions for Renewable Energy Sources and Environmental Conservation.

Ecomitram began with a Rs. 10 lakh investment and has grown to a Rs. 3 crore turnover. All of the founders have either a BTech or an MBA. They raised the funds collaboratively with the assistance of their friends and family.

Ecomitram distinguishes itself from its competition by not producing less than 100 KW capacity while also accepting smaller projects to work on. “We undertake an examination of a project based on technical, legal, and financial aspects,” Rituraj explained. The goal is to shift away from non-renewable energy sources and toward renewable energy sources.

Ecomitram is a service company that offers renewable energy solutions, environmental protection, and conservation. They offer Solar Rooftop PV Plants based on the BOOT Model.

They also enter into a Power Purchase Agreement with the users, under which they must pay Ecomitram for the power generated by the plant at a lower market price.

Consumers save money by utilizing less expensive and cleaner energy, and solar power has the potential to permeate to the deepest levels feasible. It provides services such as maintenance and operations, as well as project portfolio management.

The organization offers viable alternatives to nonrenewable energy sources. Nonrenewable energy sources have finite supplies. The rate at which humans are depleting nonrenewable energy sources will soon lead to resource depletion. It was necessary to find a solution and a replacement. Ecomitram makes an attempt to solve the problem.

The team has experienced numerous difficulties. One of the major difficulties is to replace the supply gap caused by the ongoing and rapid depletion of fossil resources. Furthermore, the cost of establishing a solar facility is high.

The government’s financial assistance is required for the optimal usage of renewable energy sources. It is costly to transition from a nonrenewable energy source to a renewable energy source.

The effort, according to the Ecomitram team, is useful on multiple levels. To begin with, customers choose sustainable energy. The startup’s mission statement is to produce clean energy. Ecomitram has gained many new customers over the years who are looking for clean and economical energy.

Second, people are becoming more aware of renewable energy resources. Many people increasingly prefer renewable energy sources to nonrenewable ones. Third, the entire process safeguards and preserves the environment.

Ecomitram pursues three customer acquisition strategies: a location-centric strategy, a segment-centric approach, and affiliation with EPC events, fairs, and contractors.

Ecomitram’s responsibilities have been split among the team members. Shashank is in charge of vendor management, client relations, and finance. Ravi is in charge of operations and vendor management. Rituraj is in charge of money raising, business development, investor relations, client acquisition, strategy, and execution. Finally, Anuraag manages technological challenges, analyses industry trends, and develops industry policies.

Ecomitram finished a 1 MW rooftop project in 2018 and finished second runner-up at Elecrama Expo.

Ravi Saini said, “It was a proud time for us. We recognized that our project had been a success, and that all of our hard work had finally paid off.”

Ecomitram is affiliated with well-known companies such as Sunwaves Power and Artha Energy.

Ecomitram intends to pursue many more solar projects in the future. The goal is to reach as many people as possible and promote awareness about renewable energy sources. A clean environment will benefit everyone. Sustainable growth necessitates the prudent use of available resources.

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