SME WORLD Bureau
Freyr Energy is a Hyderabad based full service distributed solar solutions provider with operations in India and Ghana. The company's products range from Rooftop Systems, Petrol Pumps, Solar Water Pumps to Microgrids. In the last two years, Freyr has installed over 750 solar systems across 10 states in India and impacted over 40,000 lives in rural India and Ghana. Freyr Energy is a MNRE Channel Partner and a ISO 9001 and 14001 certified company.
Saurabh Marda is the Co-Founder and Managing Director of Freyr Energy interacte with SME WORLD.
What was the objective behind Freyr Energy?
When we started Freyr Energy in 2014, we wanted to eliminate all complexity involved in system design, pricing, proposal generation etc. and make it easier to sell a solar system, while ensuring the customer gets the best product possible. Part of that goal was to enable any individual or small business at any location to start their solar rooftop business. The company started, on the premise that software will help solve the scaling challenge in the rooftop solar market. Three key (interlinked) problems that we wanted to address were –
? Lack of technical know-how, which was adversely impacting sales
? Long sales cycle time
? High initial upfront investment to start a rooftop solar business
How Freyr is different from other solar companies?
Some of the unique value propositions of Freyr are:
Simple & Fast: Freyr's proprietary technology helps the customer evaluate, purchase and monitor system performance in a simplified and transparent manner. Purchase to installation takes <4 weeks and the customer has a single point of contact through the entire process.
Smart Design: Each system is designed factoring six critical components – Customer needs, shadow-free area available, precise solar radiation at your location, budget, other sources of power and solar policies of the state. This is made possible by a technically strong sales, design and engineering team.
Guaranteed Performance: Achieved by using highest quality components that meet international standards and a wide service network to address any after-sales requests within 24-48 hours.
Financial Assistance: We help the customer apply and secure loans from banks and NBFC's.
Freyr SunProTM(SunPro), our proprietary software, is central to our approach and value add to both our end-customers and channel partners. SunPro is a revolutionary mobile application for iOS and android devices.
What is the reason behind successfully installing 750+ systems in just 2 yrs?
Our sales & installation process is very simple and transparent. With SunProTM our sales team and 75 channel partners to instantly design and price solar systems based on the end-customer's needs. The complex algorithms running in the background take care of all the complexities and it is equivalent to a 5 person team (Design engineer, pricing specialist, customer management, supply chain and project management) supporting you 24x7, 365 days to help close orders.
Our end customers are involved in the whole system design and they are well aware of all the 25-40 components (all meeting international standards) the system is comprised of. The company's proprietary technology SunPro helps the sales team to capture various aspects within 15 minutes. This is very different from the existing model, where the sales cycle is very long, primarily because of the time involved in arriving at the right solution for the customer. Ability to provide loans with the systems increases affordability. Furthermore, simplified sales and operations network, where eliminates several layers, e.g., wholesalers, distributors etc. not only allows Freyr to be competitively priced for end customers, but also facilitates its channel partners to make higher margins. This has helped us in successfully installing 750+ systems in just 2 years.
What are your thoughts on India's 20,000 MW of solar power by 2022?
The Indian government has set a target of generating 40 GW by 2022 in the distributed solar segment, which translates into a massive market opportunity worth nearly Rs.3,00,000 crores. So far, the installed solar rooftop base is 1 GW. Cost of electricity from solar energy is at par or below cost of grid power in several parts of India across various customer segmnets. This presents a unique opportunity for a significant private sector play to grow profitably without the need for additional government support.
Our vision is to provide clients customised systems at the lowest possible cost along with financing options to expand the network across 25 countries in the next three years. We are on track to have a 100 strong Channel partner network by March, 2018 and plan on increasing this to 500 by March, 2019.
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