Solar Power in India is Cheaper Than the Grid for the First Time

Solar power in India is cheaper than the grid for the first time and companies like Simpa and Orb are first on the ground in these new markets.

Simpa, founded by development economics PhD and former director of Microsoft Network Strategy Paul Needham, is adding 1,500 new customers in rural India each month and accelerating. They’ve created a lease-to-own model that makes it affordable and viable to a rural market that never existed before. They’ve already created over a Gigawatt-hour of clean power — enough to power over 120,000 people in over 25,000 Indian homes and small businesses.

Orb, headed by Damian Miller, is taking the approach from the small business level. In 2016, the company doubled its output and provided small and medium-sized businesses in a hundred small cities with inexpensive and green solar power, and in 2017 it is opening a new solar panel factory in Bangalore.

For more info see news release below and please visit Simpa Networks and Orb Energy.

Piyush Mathur Appointed New CEO of Simpa Networks
Key Move in Simpa’s Market Expansion for Affordable Solar Technology in India

Noida, Uttar Pradesh – Simpa Networks today announced that Piyush Mathur has been appointed to the role of Chief Executive Officer.

“We started this company inspired by a simple idea – that energy is opportunity – and the belief that by expanding access to energy, we can expand access to opportunity for our customers” said Paul Needham, co-founder and Chairman of the Board. “We have demonstrated the power of that idea, and today more than 100,000 people are using Simpa solar energy solutions to power their homes, to power their businesses and to power their dreams. I’m so pleased to entrust the leadership of Simpa to Piyush to now carry forward our vision,” said Needham.

“Over the past two years I’ve seen how Piyush inspires and motivates our team, builds strong partnerships and delivers results. With this new role, Piyush takes on a bigger platform and the great responsibility to realize the shared vision of the founders, the investors and the board.”

Piyush joined Simpa Networks as Chief Financial Officer in September 2014 and has led all aspects of strategic finance. Mr. Mathur has initiated a series of strategic partnerships with domestic and international financial institutions, mobilizing the capital Simpa needs to increase its scale and impact. Over the course his career, Piyush has accumulated 15 years of experience in private investment and equity across the United States, Europe and Asia, with particular experience in renewable energy projects ranging from utility scale to micro power. He holds an MBA from London Business School.

“I joined Simpa with the commitment to create a commercial self-sustaining approach for solving India’s long standing problem of energy access,” said Mathur. “Over the last two years, my resolve has only strengthened and we have achieved tremendous results all around. I am excited to take this work forward and lead Simpa to serve those customers still waiting for better energy. At Simpa, we not only envision a better world — together we are building it.”

Simpa is at the forefront of the clean energy market in India through its unique financing model. The company leases solar energy systems to farmers and shopkeepers in rural India who previously haven’t had access to solar electricity due to multiple market barriers. Using a new prepaid metering and remote monitoring technology to create pay-as-you-go payment plans, Simpa makes solar affordable for the first time. The technology also mitigates default risks for distributed rooftop solar assets in rural areas. Simpa’s innovative business model and technology has also created investment opportunities for domestic and international investors who are financing the solar revolution in rural India.

Simpa has already generated over a gigawatt hour (GWh) of clean, distributed, solar energy. The company is pursuing its plan to install 100MW rooftop solar in rural India by 2020.

Leave a Reply