Punam Energy Pvt. Ltd.: Accessing Clean Energy in Rural India
Punam Energy Pvt. Ltd. (Punam Energy) is a social enterprise that provides decentralized energy solutions to underserved households and institutions in India. It offers reliable and affordable clean energy products for lighting, cooking and electrification. The company builds an ecosystem that connects technology, finance and grassroots organizations to manage the needs, aspirations and resources of rural households.
Punam Energy is an ISO Certified (TUV) for-profit venture that sets up last mile energy distribution and service networks. The company creates a unique full service distribution infrastructure by establishing Renewable Energy Centers (REC), operating through a network of trained rural entrepreneurs, and leveraging the existing networks of local NGOs. The model is sustainable, financially viable, decentralized and scalable. Punam Energy supports undeserved rural households and business by deploying solar LED lighting, solar electrification systems and cooking/thermal solutions, across East India.
What problem are you trying to solve? Who has this problem?
Half of India, approximately 600 million people, do not have access to electricity. A greater number of people have unreliable access to electricity because of frequent power cuts or illegal grid connections. This problem is even more acute in East India, where ONergy operates. The lack of a reliable energy ecosystem, no financing availability, improper products and poor after sales service in rural areas resulted in failed solar ventures in the past. This resulted in a loss of goodwill and a trust-deficit with customers.
Approximately 114 million rural households in India spend INR 224 billion (USD 4.86 billion) per year on energy needs. According to a report from the World Resources Institute, the potential market for decentralized clean energy in Rural India is over $2.11 billion per year. Punan Energy's target markets are the states in East India, which is home to approximately 35% of the total rural poor in India.
Punam Energy develops and provides customized, affordable and reliable solutions that meet the energy needs of each rural household. Customization is immensely important for the rural off-grid market because it ensures households only pay for the services they need, no more, no less. Punam Energy overcomes the high initial cost of most solar solutions by packaging financing with their products, with the assistance of commercial banks and micro-finance institutions. The company's product line includes solar lanterns in the 0.5-10 Watt range, larger solar electrification products in the 20-200 Watt range, solar inverter systems, and solar water heating systems. Punam Energy has also developed innovative solutions in the area of solar irrigation systems, solar-powered computers and solar micro-grids.
Impacted lives of over 120,000 people across 700+ villages, with sales of over 25,000 solar systems.
Established 10 Renewable Energy Centers in West bengal and Odisha, Jharkhand.
Trained over 700 youth, men and women to become rural entrepreneurs.
Vinay Jaju, COO
Piyush Jaju, CEO
SIDA (Swedish Agency)
· Business accelerator
· Rural electrification