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Solar major Zynergy to achieve USD 500 m business in five years

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Chennai | Tuesday, Dec 22 2015 IST
 
Zynergy Group, a lead player in the rapidly growing Indian SolarSector today said it has received initial investments from UK based Kohli Ventures andProjects to achieve a turnover of USD 500 Million in five years.

Kohli Ventures is a global investment house led by India born Tej Kohi that supportsinnovative ideas, disruptive technology and dynamic businesses.

In the first year in 2011-12, we clocked Rs 4 crore turnover with 10 employees andthe Company expects to report a turnover in excess of Rs 100 crore (about USD 15 million)by March 31, 2016, its Managing Director & CEO Rohit Rabindernath told reporters at a press conference here.

Mr. Rabinernath said Zynergy will raise an additional USD 100 million more from othersources in the next three years and added the first tranche of Kohli Ventures investmentamounting to USD 5 million was received recently by Zynergy, an emerging solar productsand process player based in Chennai and Singapore.

He said the maiden investment by Kohli ventures will boost Zynergy's expansion globally,primarily through the establishment of a state-of-the- art manufacturing unit at Tirunelveli in thestate with technology from Singulus, Germany.

Zynergy is already a known name in solar home lighting solutions, having completed thelargest implementation by any company in India of over 50,000 rural homes.

Mr Rabindernath also said the company will raise international funds in process of raisingexponential growth with Kohli Ventures and announced that a cost effective solar pumping solution, on the product, will be launched soon.

Singulus AG President and CEO Dr Stefan Rinck and Kohli Ventures Chairman Tej Kohliwho were also present at the press conference exchanged ''Technology Supply Agreement''in the presence of the media.MORE UNI CS VV AK1758

-- (UNI) -- C-1-1-DL0415-500725.Xml

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