As early as 1995 Kotak Solar (previously Kotak Urja) started innovating in solar technology. The company moved from being a solar thermal (a geyser using the heat of the sun rather than electricity to bring hot water) to a photovoltaic (PV) company (those fancy solar panels you see on the roofs of buildings and in the fields).
Today solar is cheaper than diesel, cheaper than commercial grid power and cheaper than industrial grid power in certain states in India.
Solar projects today yield project IRRs of 18% and project ROEs of 14%. Now we just need to solve for the upfront capital expenditures to get the project going. Any project finance people out there? We should talk.
A pioneer in the renewable energy technology in India, Kotak Urja started operations in 1997. The company custom-designs, finances and installs a wide range of solar thermal and solar photovoltaic systems all across India.
A company’s product enables its business model and the business model defines the parameters of the product. Neither is permanent in nature; changes in one impact the other and in the best cases they play off each other.