Reconnect Energy: Bolstering the Renewable Energy Sector

Vishal Pandya, CEO and Co-Founder, Reconnect Energy

Today, many organizations are taking innovative measures for energy management in India. Realizing that the energy demand is very acute in India, many organizations have come with ideal strategies that reduce reliance on energy imports. By developing new capabilities and solving the problems in the industry, these companies are emerging as role models. Reconnect Energy, a renewable energy service provider in India is one such company that has set a remarkable instance for others to follow, by providing services that transform energy markets through digital energy solutions.

To become a global leader and to support Grid integration, the company helps other companies buy and sell green energy credits. The company also provides many other services including investment decision support, regulatory guidance, and strategy consulting to RE investors and very large industrial customers. Headquartered in Bangalore, Reconnect Energy comprises 14 members with offices at Mumbai, Pune, Chennai, and Indore.

Currently, the company has over 130 projects managed across 15 states in India. The company’s predictive analytics-based solutions to arrest variability associated with renewable and thereby making renewable energy generation grid friendly has garnered attention from across the globe. The company has also come up with market-based solutions specifically designed to accelerate Renewable energy procurements among commercial and industrial ( C&I) consumers and thereby democratizing access to clean energy.

When asked how the journey started for Reconnect Energy, Vishal Pandya, CEO, and Co-founder of Reconnect Energy said, “since my IIT days, the intention to start-up was thereafter obtaining a few years of work experience. However, I built on the idea only when Vibhav Nuwal( my Delhi based partner and co-founder of Reconnect) in early 2010, when a lot of regulatory developments were happening around the REC mechanism.”

Milestones

The company has achieved many milestones in a very short period. But the one that brought Reconnect Energy close to its customers is the steps they have taken to reduce the price of renewable energy. Over the past five years, the company has played a huge role in reducing the prices from 5.05Rs/kWH in 2014 to 2.44 Rs/kWH IN 2017 for solar. The company has also been awarded at all 11 Renewable Energy management centers ( REMCS) at national levels.

With an exceptional team and their immense ability to innovate, Reconnect Energy has revolutionized the renewable energy sector in an environment-friendly manner. In transaction management, the company provides 45 percent market share in Environmental markets (Renewable energy credits, Energy-saving Certificates (ESCERTS) 200 MW of Green Energy facilitated between buyers and sellers.

In predictive analytics, the company provides 55 percent market share Wind/Solar Forecasting in IPP category clients. 100 percent market share of wind/ solar forecasting for utility-scale projects in India.

However, the features of Reconnect energy don’t end there. The company has also been creating awareness about the Renewable energy sector through running blogs and sending monthly newsletters. The company’s newsletter, OPEN ACCESS that focuses on the latest developments around the REC mechanism, has a subscription base of over 7000 industry stakeholders.

Reconnect as a lot of things to look forward to in the coming years. Going forward, the company will be focusing on creating awareness as well as providing renewable energy services at reasonable prices.