One of the leading investment platforms that help retail investors invest in sustainable projects, Pyse has reportedly strengthened its leadership position in the renewable energy sector by launching India’s first and the largest fractionally owned solar power plant.
Pyse is known to have helped retail investors invest in sustainable projects that create social and environmental impacts from a ticket size as low as Rs 5,000. With a Rs 26 crore investment, the solar power plant will be launched in Karnataka with an average investor ticket size of Rs 25,000. Know more on SURFACES REPORTER (SR).
The project will be strategically divided into four tranches, of which the first three will be worth Rs 16 crore. These three tranches have been oversubscribed by 2.5x where the money had been raised on average three days. More than 600 retail investors have shown their interest. The project is further expected to be equipped to supply solar power to marquee clients that are operating manufacturing plants.
The final tranche is expected to be launched with a minimum investment of Rs 5 lakh. The project, which is designed to offset 65 lakh kg of carbon footprint each year for the next 25 years, is reportedly expected to be commissioned by July end.
Image credits: Oorjan (for representational purpose)