Dubai: Distributed Energy, a renewable energy aggregator, today announced the launch of a one of its kind platform that connects credible renewable projects with investors. After comprehensive due diligence on several metrics is performed, energy customers have their fundable projects listed on its marketplace. Investors can explore and express interest in one or more of these at the click of a button at www.de.energy. The platform has already delivered 5MW of energy to a range of companies in South Asian countries and Africa. The platform also shared today that it has received USD 1.4 million in funding from Ramez Naam (Co-Chair of Energy and Environment at Singularity University) through an AngelList Syndicate and from Mount Meru Group, a leading African business conglomerate.
Distributed Energy has been co-founded by Dubai based entrepreneurs Mathew Mazhuvanchery, Ruchir Punjabi and Sudhakar Kadavasal.
Talking of the new platform, Mathew Mazhuvanchery, Co-Founder, Distributed Energy, said, “The Middle East, South Asia and Africa are among the most promising renewable energy markets in the world – especially in Solar. We have one of the most refined supply chains in solar energy. However, access to capital for companies is limited. We believe that the platform, by opening up a new, reliable channel for investors, will help unlock capital and thus accelerate the deployment of renewable energy across the region. The primary reason why the platform has gained quick traction is due to the economics of the model that works for both parties.”
Ramez Naam, Co-Chair of Energy at Singularity University and an Angel Investor, added, “We have seen the platform model work well in distributed solar in other parts of the world. There’s a huge opportunity to bring the same solar model to commercial and industrial customers in the Middle East and Africa region, saving customers money, and earning a return for project backers. Distributed Energy’s co-founders are seasoned entrepreneurs, and they immediately impressed me with their knowledge and vision for solar in the region.”
The platform plans to push for projects with standardised design and using certified engineers and equipment. After the project starts generating power, it will also manage the distribution of returns. The returns on these projects is usually in excess 16% over the length of the power purchase agreement.
About Distributed Energy : Distributed Energy is a development and aggregation platform that connects renewable projects with funders. The company deploys projects with standardised design using certified engineers and equipment. It matches funding with renewable energy projects, oversees the execution, operations and maintenance. Their focus is solar rooftop projects across India and Africa from 100 kW to 5 MW. For further details, visit- https://de.energy
© Press Release 2019