Even as our energy demands are increasing day by day, global warming and climate change resulting from the indiscriminate usage of non-renewable sources of energy are also increasing proportionately. It is in this scenario, that the work being done by Greenworld Solarwares seems to be refreshing. Providing a range of energy efficient solutions, by harnessing the omnipresent solar energy, the organization’s activities appear worthy of emulation. We spoke to the Founder and Managing Director of the organization, Mr. Uday Bhushan Singh and here are a few of the excerpts from the interview:
In this era of increasing global warming and the related climate change, it is heartening to note that you are working in the field of solar energy. When did you startup?
7th September 2012 was my last working day in HCL Technologies as a Software Engineer. We started our operations in September 2012 itself, in Raipur (Chhattisgarh) and on the very first day, we got our first project worth Rs. 6.40 lakh. In the first year itself, our turnover reached more than Rs. 1.5 Crores and this year we are hoping to cross the Rs. 5 Crore mark.
Can you tell us about your team composition and founders? How did this idea of providing solar energy powered services to businesses come into being?
We are comprised of three founders and we complement each other effortlessly. This allows us to manage our business in an effective way. Below mentioned are the Founders’ Profiles:
- Mr. Uday Bhushan Singh: An Electronics Engineer by qualification, he has worked for HCL Technologies for more than 2 years and in Greenworld Solarwares he handles General Management, Finance and Strategy.
- Mr. Ram Kumar singh: An Electronics Engineer by qualification, he has been a Project Fellow at the Solar Energy Centre and Central Electronics Limited, New Delhi. He has also worked as a Project Engineer in GreenBrilliance Energy (P) Ltd for more than a year. In Greenworld Solarwares he handles Systems Design and Project Implementation.
- Mr. Tilesh Dewangan: An Electronics and Electrical Engineer by qualification, he handles Marketing and Fund Raising at Greenworld Solarwares.
Severe energy crisis, global warming and centralized power system are the three factors that forced us to start a clean energy venture.
What are the products and/or services that you provide?
Greenworld Solarwares is a vertically integrated end to end service provider in the field of solar power plants, solar water pumping and solar water heating systems. Our solutions find application in non-conventional electricity generation in irrigation, drinking water and water heating facilities. Our solutions are sustainable and pollution-free, and have no operating costs. Our solutions also have a short payback period.
How is the competition in this field? Does the government support your enterprise? Have you received any official/industry recognition for your enterprise?
Industry recognition is being attained at a slow pace and we are being faced with very tough competition from our competitors. Most of the projects we are working on are subsidized and hence our business heavily depends on government policies, though we are planning to enter into those verticals where government dependency is less.
How open are the businesses to using solar energy as their energy source? What are the problems you faced in enlarging your customer base?
Growth of solar energy in India has been very good till date. In 2010, the Government of India launched the Jawaharlal Nehru National Solar Mission (JNNSM) that aims to generate 20 Gigawatt (GW) of solar power by 2020. The progress of JNNSM has been very good. JNNSM has completed its first phase in March 2013 and has already installed the targeted capacity.
Since the solar energy business in India is completely dependent on government policies and government funding, the major hurdle we are facing right now is delay in funding. For example, though Phase-2 of JNNSM has started in April 2013, till date funds have not been released from the Ministry of New and Renewable Energy (MNRE), Government of India. Thus, to enlarge our customer base, the major problem we are being faced with is finances.
What are your future plans?
Our future plan is to start two more verticals which are less dependent on government so that we can reduce our dependency on government policies and government departments.
One tip for aspiring entrepreneurs?
Being an entrepreneur is very exciting and it is a very different kind of experience altogether. For me, entrepreneurship is more about solving problems, as, we cannot prevent problems from arising; we can only solve them patiently. Hence, I advise entrepreneurs not to run away from problems but rather to solve them patiently.