Solar energy is quickly gaining popularity as a mainstream alternative energy source. In India, a large number of industrial players have already installed solar energy systems and are reaping the rewards of harnessing free solar energy. However, the cost of deployment has emerged as a significant obstacle for the Indian players despite the government's aim for decarbonizing the energy infrastructure.
According to reports, financial institutions are skeptical about lending money for solar projects because of concerns about the businesses' ability to repay debt under the CAPEX model, which requires a large upfront capital investment, or to uphold long-term power purchase agreements under the RESCO model apart from state renewable energy policies including but not limited to Net Metering. This, in turn, is impeding the industrial off takers wide¬spread transition to solar power.
Matgrow Renewables, a customer focused entity, is striving to meet this challenge for its clients, with strategic investors on-board, the firm is making sure that its clients are provided with term loan necessary for different models including — PPA, Deferred Capex and Group Captive models. In Deferred Capex the clients need to pay EMIs that are less than the energy savings over grid tariff realized by the Solar energy delivered.
“At Matgrow Renewables, we understand every pain point of our clients, and our team ensures that each complexity is met with complete assurance. Currently, we are even providing collateral free loans to our clients wherein they are only required to pay EMIs”, says Ashish Goswami, Chief executive officer Matgrow Renewables.
One-stop-shop
With years of dedication, expertise and customer- centric attitude, the team at Matgrow now offers its clients different models of solar power system deployment, like — Opex, Capex, Deferred Capex, etc. Moreover, the firm also collaborates with reputed developers including Continuum Wind Energy and Eurpean developer to provide Solar and Wind Hybrid solutions to the clients.
“Today, the majority of the service providers are offering only the PPA or Capex models, which are largely capital intensive. However, we on the flip end are offering different models to choose from, thereby ensuring affordability throughout the product life”, states Goswami.
Furthermore, the Deferred Capex model offered by Matgrow has been its key differentiating factor in the solar EPC market. Through the Deferred Capex model, the firm offers a capex free solution to its clients. This in turn ensures a complete transfer of solar asset ownership to the client's book within five to six years of the project life.
“Our Deferred Capex model helps the client to receive depreciation benefit. Hence, the total revenue that our client is able to generate in a span of 25 years is considerably higher than any other models”, adds Goswami.
Quality Assured Products
Since its inception, Matgrow Renewables has been diligent about its basket of offerings. With European developers on board, each product delivered by the firm is now passing through stringent checkpoints, thereby assuring the longevity and quality of the product.
“Our undivided attention has been towards maintaining the quality parameters of our products. Furthermore, with European developers with us, quality has now become synonymous with our name”, points Goswami.
To deliver complete assurance on quality over the life of the solar plant, Matgrow has committed use of only Tier-I components.
To ensure that customer savings are maximized, Matgrow offers comprehensive Operation & Maintenance at no additional cost to its customers within the contract .
“The Matgrow team continuously strives to guarantee the quality of its systems by using state of art technologies and processes and highest quality of components. Our qualified vendors ensure that established processes are consistently followed and rigorous testing methodologies are adopted”, mentions Goswami.
Team of Experts
The team of Matgrow has been an X-factor driving its growth in the Indian market. Starting with the management, to sales, supply chain and design and execution teams, each possess an in-depth industry knowledge in their respective domains ensuring timely delivery of a quality product.
The 26-member team at Matgrow possess a cumulative experience of 10+years’ experience in the solar EPC market. The sales lead at Matgrow possess more than a decade of domain knowledge. Apart from these, the regional sales team located at a PAN India level comes with domain knowledge, training and experience, to offer the optimum solution to the customer at the most competitive price.
As a customer centric organization, Matgrow has also been diligent about meeting its clients' queries. Today, the firm has a dedicated 24x7 customer support team and dedicated technical team works to guarantee on-time complaint resolution and minimum down time as per agreed SLAs.
“With a dedicated team of qualified personnel, we strive to deliver our clients an unmatched experience. Our team of experts ensures an end-to-end assistance, thereby leading to optimum productivity”, adds Goswami.
The Way Ahead
Incorporated in 2020, Matgrow Renewables is a segment of Active Engineers, a company with more than two decades of experience in LT and HT panel manufacturing, Power gain Engineers, A’ Class electrical contractor for electrical utility infrastructure. Matgrow was originally formed to serve the solar industry in a dedicated form. Since its inception, the team has been dedicated to introducing new models, such as Deferred Capex, for meeting the ongoing industry challenges. The firm has also continually added several investors that can provide its clients with the necessary funds for deployment of solar power systems.
Matgrow Renewables also assists with different financial models, and ensures that its clients are offered the best and most refine service from pin to plane
Owing to the firm's customer-centric approach it has also witnessed a massive growth over the last few years. Starting its operation from Gujrat, the company has now established its firm grip in the pan India market. “We started our journey with 226 kWp of project and right now, we have a portfolio of around 28 MWp Presently, we operate at a pan India level, with numerous projects including in states of Gujarat, West Bengal, Karnataka, Maharashtra, and North part of India”, says Goswami. From an annual turnover perspective, the firm has scaled up impressively starting with 10 lakh in the first financial year to 5000 lakhs in the current year, a growth of 500 times in two years .
In the coming days, the firm wants to continue scaling up in the solar EPC market. “We are inclined towards providing all the facilities to our clients at a single point. Whether roof-top or ground mounted, our team ensures to deliver the best and quality assured service to our clients. Our constant endeavor has been towards providing our clients energy savings with lowest cost of capital, and hence we have brought in innovative investment models. In a nutshell, Matgrow Renewables looks forward to being a premier one-stop shop in the solar EPC industry”, concludes Goswami.
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