Husk Power Systems, a Bihar-based rural firm operating renewable mini grids in Asia and Africa, on Thursday said it has surpassed 100 community mini-grids and was serving more than 5,000 micro-enterprise customers — two firsts in the industry.<\/p>\n
According to the press release, the firm continued to grow from March to September and saw a 52 per cent increase in customers in India, while its revenue grew by 101 per cent during the same period.<\/p>\n
\u201cThe 100 mini-grids, located in India and Tanzania with near-term expansion to additional African markets including Nigeria, represent a more than 10-fold increase from mid-2018,\u201d it said.<\/p>\n
The firm added that the average capacity of the mini-grids was 50 kW, a system size that is significantly larger than most other rural energy service providers and able to power multiple productive loads for a range of small businesses.<\/p>\n
\u201cWe\u2019re now able to roll out at least two new mini-grids per week, one of the fastest growth rates in the industry, and there is still considerable room for acceleration,\u201d said Manoj Sinha, chief executive officer and founder, Husk Power.<\/p>\n
He added that hitting 100 mini grids is a stepping stone to becoming the first commercially-viable mini grid company in the world and to doubling their mini-grid fleet to 200 in the next 12 months. This would be in line with their target of reaching 5,000-minigrid sites serving 500,000 micro-enterprise customers.<\/p>\n
Micro-enterprise customers of the firm on average have seen a 33 per cent increase in profits once connected to the mini-grids, according to the company\u2019s market research.<\/p>\n
Husk Power\u2019s rapid growth has been supported by its success in raising US$25 million in equity financing from leading investors, including FMO, Shell, Swedfund and ENGIE Rassembleurs d\u2019Energies.<\/p>\n
According to Brad Mattson, chairman of Husk Power board of directors, said the firm is planning to achieve operating profitability by 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"
Husk Power Systems, a Bihar-based rural firm operating renewable mini grids in Asia and Africa, on Thursday said it has surpassed 100 community mini-grids and was serving more than 5,000 micro-enterprise customers — two firsts in the industry. According to the press release, the firm continued to grow from March to September and saw a 52 per cent increase in customers in India, while its revenue grew by 101 per cent during the same period. \u201cThe 100 mini-grids, located in India and Tanzania with near-term expansion to additional African markets including Nigeria, represent a more than 10-fold increase from mid-2018,\u201d […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-389028","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/389028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=389028"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/389028\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=389028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=389028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=389028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}