Boond Engineering & Development Pvt. Ltd
Rustam Sengupta - CEO
works for 'affordable clean energy access' for rural India. We sell solar
systems financed by financial institutions and train entrepreneurs to sell and
Problem: India is a vast country, with an immensely diverse geographical and cultural
character. Even though the country is on the path of economic growth, a
majority of its population does not have access to something as basic as clean
and reliable energy. As of 2012, it has about 80,000 non-electrified villages.
A majority of villages lie in very remote regions with harsh terrains, and
hence they are not suitable for developing grid infrastructure. Given the
situation, most people are dependent on Kerosene and wood to meet their energy
needs. Typical household energy expenditure varies between 4-8 dollars
every month. As a result, such regions typically suffer from problems
like low productivity, low literacy rates and health related issues. The only
economically viable approach for such regions is to generate energy using
decentralised solutions. With abundance of solar energy throughout the year,
solar technology is a wise bet. But one of the major challenges which hinder
the promotion of solar energy is its high capital cost requirement.
challenge can be easily overcome with the support of financial institutions,
especially banks. Through financing, a customer may avail loan where his EMI is
equivalent of his average monthly expenses on traditional energy sources. For
financial institutions to extend loans, they need to be confident that the
system will last beyond the loan period. Hence, it becomes mandatory to
integrate after-sales service support into the product package.
has in the past two and a half years already setup three energy centers
(servicing units) and sold over 6000 products impacting the lives of over
50,000 people. Some of the states that Boond will be operating in over the next
five years are Rajasthan, Uttar Pradesh and Madhya Pradesh. The cumulative
population of these states is over 100 million with nearly 30% still living in
un-electrified or badly electrified conditions.
Investment Needed: Boond
is in the process of raising a total of INR 3.2Cr or USD 500K in the form of
debt and equity in total.