Freyr Energy, which has an installed solar capacity of 3.4 MW in Uttar Pradesh, is eyeing expansion into the state’s residential sector as well.
The company aims to solarize 1,000 households in Uttar Pradesh by March 2025. Addressing the financial challenges that have historically hindered solar adoption, the company offers zero-cost EMI loan schemes and facilitates quick loan evaluation.
The company’s tech platform, FreyrEnergy App, streamlines the entire solar installation process, ensuring a seamless and hassle-free experience for clients from initial consultation to post-installation services.
Freyr Energy has already solarized 10 villages in the Lakhimpur and Bahraich districts, achieving a total installed capacity of more than 300 kW. Additionally, the company has completed solar projects for Subharti (1 MW), Enertia (450 kW), and Brijbasi Art Press (185 kW) in the state.
Notably, Uttar Pradesh aims to achieve 22 GW of installed solar power capacity by 2027 under ‘Uttar Pradesh Renewable Energy Policy.’ This includes 6 GW from rooftop solar projects.
“With PM Surya Ghar Yojana and additional State’s subsidy of up to INR 30,000, Uttar Pradesh residents can avail of a joint subsidy of up to INR 98,000/- for a 3 kW system. These state schemes and incentives are very motivating for the customers to transition to solar. By working together with the government and the people of Uttar Pradesh, we at Freyr, aim to make solar power accessible to every household,” said Radhika Choudary, co-founder and director of Freyr Energy.
Freyr Energy recently secured an equity investment of INR 58 crore in a round led by EDFI ElectriFI. Other prominent investors are Schneider Electric Energy Asia Fund (SEEAA), Lotus Capital LLC, Maybright Ventures, and VT Capital.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.