Creating a niche in the renewable energy sector this Gurugram-based startup is an integrator and developer of solar power projects, offering turnkey services including engineering, procurement and construction among others.
Considering India’s climate, many see solar power to be a perfectly feasible source of energy for the country. It receives about 2,300-3,200 hours of sunshine every year, which is an incidence of 4-7 kWh/m2 of solar energy, enough to meet consumption requirements. With the ever-increasing prices and decreasing stocks of fossil fuels, solar power seems to be the best option.
As per industry estimate, India had installed 12.2GW of utility scale solar till March 2017. In June 2015, the government had revised India’s solar power target to 100GW from 20GW by 2022.
Working on this mission to help India reach its renewable energy target is Ultimate Sun Systems. The startup is into Engineering, Procurement and Construction (EPC) of solar power projects across all segments - residential, commercial, and industrial. It offers turnkey services in the field of solar energy and renewable energy ranging from consultation, project design, project development and execution services and operation and maintenance. The company’s portfolio is not restricted to EPC only but also offers investment opportunities by working on both CAPEX (capital expenditure) and OPEX (operating expense) business models.
Headquartered in Gurugram, Ultimate Sun Systems has ongoing projects in Karnataka, Maharashtra, UP, Punjab, Himachal Pradesh and Tamil Nadu, expanding its reach to other states soon.
The journey so far
Launched in 2013, Ultimate Sun Systems was established by Balwant Singh Yadav, who holds over 30 years of experience in renewable energy and energy conservation planning & implementation and had earlier served as a top management official for companies like HAREDA (Haryana Renewable Energy Development Agency), Elcomponics and RS India (Solar & Wind). During his 3+ decade long career, Balwant identified a gap in providing high-quality and cost efficient customised clean power solutions.
At a project site, Balwant met Narender Kumar (37), who come with 16 years of experience in planning and execution in different sectors including solar. During the meet, the duo discussed the existing challenges plaguing the solar industry and how it can be transformed. Together they embarked on a journey to promote an environmental friendly energy source with Ultimate Sun Systems.
“What encouraged us was the lack of know-how and proper expertise in installation of solar projects which deliver the best long term results and meet Government guidelines,” adds Balwant.
The duo was soon joined by Himanshu Yadav (27), an alumnus of BITS Pilani, Goa. Before joining Ultimate Sun Systems, Himanshu had worked for a multinational corporation and had also led a startup in events networking and marketing.
Understanding the market size
According to a recent report in India Solar Handbook 2017, released by Bridge to India (a consulting firm in India’s renewable market), with 8.8 GW of capacity addition projected for this year, India is set to become the third biggest solar market globally in 2017 and is expected overtake Japan. The report reveals that solar capacity in the country is expected to touch 18.7GW by the end of 2017, which is about 5% of global solar capacity.
Embracing the huge potential of the sector, Indian conglomerates such as Adani Group, Mahindra Group, Reliance Industries, Aditya Birla Group are gearing up to invest and grow its clean energy portfolio.
Not only big giants, numerous startups including Gram power, Picoenergy, Mera Gao Power, ONergy, Cygni Energy and Boond Engineering among others are trying to help India meet its power requirement in a greener way.
With a combined experience of more than 50 years in the power and energy sector Ultimate Sun Systems has made a mark in the renewables industry. Banking on strong technical experience and long years of experience, the company also provides customised solutions & services for power requirements to clients.
“USSPL has a principle and culture of not compromising with quality, safety standards, and workmanship,” says Himanshu.
Since inception, the brand has been self-funded and has no plans to raise funds. Going ahead, the Ultimate Sun Systems aims to become an independent power producer (IPP) in the distributed power generation segment. In the next two years, it is eyeing to establish a strong presence Pan India followed by expansion into Asian and African markets by 2020.
In the first year of inception, the brand claims to have delivered projects worth 20 kW, generating revenues of nearly 15 lakh rupees. Backed by a team of 35 employees, the venture has delivered 5MW (5000 kW) so far with over 20 crore rupees in revenue.
- solar energy
- Sustainable energy
- energy sector
- Renewable energy commercialization
- customised clean power solutions