Solar PV Systems Business Opportunities

Waaree Energies Limited was founded 35 years ago, with its headquarters in Mumbai, India. Waaree has India's largest aggregate installed capacity of 12GW as of last year at its plants in Chikhli, Surat, Tumb, and Nandigram in Gujarat and is a top player in the solar module export for this fiscal year. As of last year, the total number of Franchisee of Waaree was 407 in India and 20 outside India. The company has supplied more than 6GW of solar modules and commissioned more than 1.1GW solar EPC projects.

An increase in the levelized cost of energy (LCoE) due to the depletion in solar tariffs worldwide has created some sense of fear in the minds of solar power developers. To make it commercially competitive, the only way forward is to maximize yields and improve their IRR. The only way forward for higher yield is to use solar PV tracking technology to harness the sun to its full potential. The existing tracking systems are single-axis tracker (SAT) and dual-axis tracker (DAT), unfortunately, both are not too effective. The SAT has shortcomings in design and the DAT is too expensive to be economically viable. Critically analyzing the market demand, we have innovated a new & enhanced solar tracking technology that disrupts the existing single-axis tracker. It overcomes the inherent design disadvantage of the single axis, thereby offering a near dual-axis tracker performance, at the cost equivalent to a single-axis tracker. Key features of our innovation are: - Rotates solar modules in two different directions, unlike the SAT. - The angle of incidence of the sun's irradiation on the module is always close to perpendicular at all times and in all seasons of the year, whereas the angle of incidence in a single-axis tracker is effective only during the summers. - The performance recorded is 2x to 3x over SAT at any location on the globe. This results in a tremendous improvement in the project IRR. - The 2-Axis Tracker has an ideal design advantage for bifacial solar modules. - 2-Axis Tracker is so versatile, that the same can be converted to a horizontal & tilted single-axis tracker by deactivating N-S movement. - Innovation is the next-generation technology, which replaces and overcomes existing SAT technology. - The design is jointly developed with IIT-Delhi and incubated in their premise. According to Fortune Business Insights, the global solar tracker market size was USD 9.30 billion last year and is projected to reach USD 22.33 billion in the next 6 years, growing at a CAGR of 20.78%. - Between the next three years, global annual solar installations will average 135 gigawatts. - Meanwhile, the global tracker market will see a 45 percent increase in installations for the next 2 years. - The promoter of the company has 8 years of rich experience in the solar industry with various verticals in the same domain. - Granted patents for India, USA & Canada. Pending for 30+ countries in EU & UK. - Executed 6 MW in a 2-axis tracker and prospect base of over 150 MW. - We hire on a need basis.

- Served more than 10 clients including Kirloskar, Plaza Solar etc. - The factory was commissioned very recently and did sales of INR 80 lakh last year. - We are incubated at IIT Mandi and IIM Calcutta and have business relations with Kirloskar, Sterling n Wilson, Priyagold, NTPC, SAIL, Eastman Solar etc. - We have a separate RnD unit under which we design, innovate and market new-age solar products which are being sold to Indian Army, Indian Railways, CSIR research labs, BARC, ISRO etc. - We have more than 7 years of solar industry experience as our other unit was doing solar EPC for giants like Neolite Industries, SAIL, Haryana police, NHPC, Airport Authority of India, BSF, NALCO etc. - The business has sold units worth INR 1.45cr to date. - The business has 5-6 active clients. - We have an annual production capacity of 80MW per annum which can produce a revenue of INR 200cr. - The business is registered in Kanpur, but it is headquartered in Noida housed in a corporate building at a prime location.

Patented, revolutionary technology. An international team is ready to spread the market around the world. Only the manufacturing capacity is the limit of the market.

- We are a solar EPC company providing engineering, consultancy, procurement, construction services across Maharashtra. - Our company is also recognized by the Government of India as a startup company. - To date, we have done 50+ projects and on average a project takes 3 to 4 months to be completed. Completed projects with a capacity of more than 500 KWP. - Procure the parts from 15+ vendors in Maharashtra. - We manufacture the MC4 connectors used in the installation of solar panels in our facility and have a production capacity of manufacturing 50,000 pieces per month. - Engaged in also maintaining and servicing the projects after installation and have reputed clients. - Majority of our revenue comes from the installation of projects. - We have built a 250 KW solar power plant on the BOT / OPEX Model which gives us a fixed income for the next 15 years. - We also have a research and development wing which is known as the center of excellence in renewable energy. In this we does various researches related to solar energy and published in the form of patents, copyrights, etc. - In this center of excellence we have different projects on which research is carried out.

- We are a company that provides solar-based systems on a rental basis to complement diesel generators used by oil & gas companies. - For the last 5 years we have been involved in the sale of solar systems and solar-powered equipment but we now plan to rent out solar energy units. - We seek to set up 12 solar energy units in variant capacities of 40 KW, 50 KW and 60 KW to rent out to oil production companies. - These would be used as an assisting energy source for diesel generators used in pumping. This would save around 30% of the oil production cost and is also green, maintenance-free, renewable & sustainable. - The target market is EGP 2.5 billion ($150,000,000), servable market is EGP 3.2 billion ($200,000,000) and the potential market is EGP 5.2 billion ($300,000,000). - We have a qualified team consisting of a petroleum engineer, 2 geologists, 2 electrical engineers, an accountant and 6 technicians. - Plan to hire 6 more people on the team including 3 electrical engineers and 3 technicians. - We have worked with all major listed oil & gas companies which amount to about 50 companies. - We plan to market our new vertical to these companies as well as to additional companies across Egypt. Eventually, we would look to grow internationally. - Promoter has more than 20 years of experience in the field of oil & gas including 6 years of experience at the head of this firm. - Was awarded the best Arabian Startup Company in Solar Energy Efficiency from Arabian League. - Feasibility study using solar energy in the oil field (attached)

- 4-year old company with 2 offices in Haiti (one of them being the headquarters) and another branch office in the US. - We offer complete solar solutions to homes, offices, businesses and companies. - Services include solar products sales, solar panels installation and smart home services. - We purchase solar products, devices, solar panels, batteries and inverters from China. - Have already sold and installed more than 3 MW worth of solar panels in the country. - Have over 2,000 active customers and we have become one of the leading solar energy company in Haiti. - Majority of our clients are from Haiti and we have some clients in the US. - Business is operational even during the pandemic but our sales have reduced. - We have a lot of experience in the market and our goal is to bring more value in this community with low price solar energy solutions to customers. - Owner is in the US and runs the business from the US office. - Physical assets owned by the business include furniture and solar product inventory.

An increase in the levelized cost of energy (LCoE) due to the depletion in solar tariffs world-over has created some sense of fear in the minds of solar power developers. For making it commercially competitive, the only way forward is to maximise yields and improve their IRR. The only way forward for higher yield is to use solar PV tracking technology to harness the sun to its full potential. The existing tracking systems are single-axis tracker (SAT) and dual-axis tracker (DAT), unfortunately, both are not too effective. The SAT has shortcomings in design and the DAT is too expensive to be economically viable. Critically analysing the market demand, we have innovated a new & enhanced solar tracking technology which disrupts the existing single-axis tracker and is called the “2-Axis Tracker”. It overcomes the inherent design disadvantage of the single axis, thereby offering a near dual-axis tracker performance, at the cost equivalent to a single-axis tracker. Key features of our innovation are: - Rotates solar modules in two different directions, unlike the SAT. - The angle of incidence of the sun's irradiation on the module is always close to perpendicular at all times and in all seasons of the year, whereas the angle of incidence in a single-axis tracker is effective only during the summers. - The performance recorded is 2x to 3x over SAT at any location on the globe. This results in a tremendous improvement in the project IRR. - 2-Axis Tracker has an ideal design advantage for bifacial solar modules. - 2-Axis Tracker is so versatile, that the same can be converted to a horizontal & tilted single-axis tracker by deactivating N-S movement. - Innovation is the next-generation technology, which replaces and overcomes existing SAT technology. - The design is jointly developed with IIT - Delhi and incubated in their premise. According to Fortune Business Insights, the global solar tracker market size was USD 9.30 billion in 2022 and is projected to reach USD 22.33 billion in the next 6 years, growing at a CAGR of 20.78%. - Between the next three years, global annual solar installations will average 135 gigawatts. - Meanwhile, the global tracker market will see a 45 per cent increase in installations from 2020- 2025. - The promoter of the company has 8 years of rich experience in the solar industry with various verticals in the same domain. - Granted patents for India, USA & Canada. Pending for 30+ countries in EU & UK. - Executed 6 MW in a 2-axis tracker and prospect base of over 150 MW.