Posted on January 29, 2016
Kohli Ventures and Zynergy Group Launch $100M Global Investment Drive for Solar Energy
Kohli Ventures, the global technology investment company, and Zynergy Group an Indian solar projects and services company, has announced today the launch of its fund-raising plans, targeting USD$100m over the next three years. The investment will go towards expanding the business and driving the rapid growth of the solar energy sector across India, Africa, The Middle East and Asia.
A specialist in disruptive technologies, Tej Kohli, Chairman and CEO of Kohli Ventures, said:
‘This is both an essential part of the solution to moving the world away from non-renewable sources of energy and a key to unlocking greater economic growth for emerging and developing countries. Technology will continue to advance and push the dial in the renewable energy sector. The key is in finding those at the cutting edge to ensure first mover advantage’
The $100m investment drive has been launched by Kohli Ventures and Zynergy to further fund and support ground-breaking technology within the renewable energy sector by providing Zynergy with working capital to help it build the business, expand into new markets, and further develop its manufacturing and R&D capabilities. This is based on Zynergy’s successful track record of achieving path breaking technologies and solar based applications for home solutions in rural communities.
The announcement follows the launch of the partnership between Kohli Ventures and Zynergy in December 2015, at which Kohli Ventures invested $10m into Zynergy to support its new manufacturing plant in Tamil Nadu, India. Here, Zynergy will manufacture Cells, PV Modules, Inverters (Power Control Units) and other solar-based applications, supporting the Indian Government’s solar energy initiatives and helping to change the daily lives for many thousands of families living in India’s rural communities. The investment by Kohli Ventures is the first tranche of funding with further tranches of funding confirmed to take place to support Zynergy’s growth into the overseas markets.
Rohit Rabindernath, serial entrepreneur and Founder of Zynergy, added
‘At the COP21 UN climate summit more than 500 organisations worldwide, representing over $3.4trn in assets, pledged to new commitments. With energy demands only set to increase, these assets need to remain within the energy sector and shift towards renewables. Technology is a differentiator in the global market, and at the same time is bringing costs down, which means it is possible to bring increasingly affordable power on-line. With the biggest demands in emerging and developing countries, solar is the primary energy and investment solution.’
Subscribe
Receive your FREE Quarterly Issue
Name
Email Address
What is:
Submit
Our awards
Middle East CEO of the Year Awards
Introducing an essential new addition to MEA Market’s roster of awards, the inaugural Middle East CEO of the Year Awards 2023!
Visit our awards here Our awards
MEA Business Awards
MEA Markets is happy to announce that the MEA Business Awards are returning for the sixth consecutive year! This established awards programme identifies those individuals and companies who excel in their respective industries, encompassing the entirety of the Middle East and Africa in our search to highlight the firms that go above and beyond to establish themselves as business leaders.
Visit our awards here Our awards
UAE Business Awards
MEA Markets is very proud to host the UAE Business Awards 2023 for its seventh instalment! This awards programme aims to reward a vastly diverse range of hardworking businesses from across the United Arab Emirates region, who are demonstrating innovation and excellence throughout a turbulent economic climate many firms are suffering through.
Visit our awards here
