Affordable green energy
Tiger Power is a cleantech company that delivers renewable energy to remote locations. The company combines plug & play solar energy systems with battery storage and a hydrogen cycle. The latter serves to accommodate seasonal differences. Tiger Power integrates both systems in rural power grids, known as ‘minigrids’. The minigrids offer remote families and companies affordable and green energy.
Thanks to its collaboration with the international cleantech company Cambridge Energy Resources (CER), Tiger Power will integrate telecommunication towers in its minigrids. CER currently manages 600 telecom towers in rural areas across India. By integrating these towers into the minigrids, electricity demand better matches supply. The electric load profile of companies, households and telecom towers complement each other.
Realising government goals
In September Indian Prime Minister Narendra Modi pledged to electrify 40 million households by the end of 2018. With this goal India aims to speed up economic growth and development. Currently up till 250 million people lack access to electricity. Since many of these families live in remote areas, the Tiger Power - Cambridge Energy Resources (CER) minigrids offer an affordable solution. The companies hope to spur sustainable growth and development and help the Indian government realise its goals.
The 200 minigrids require a 20 million euro investment. This money is to come from the Tiger Power Socio-Economic Impact Fund.
“With the Socio-Economic Impact Fund we want to generate a positive social impact and offer investors and lenders a sustainable financial return. We’re looking forward to working with CER. Their experience in the Indian telecom & energy sector will help us moving forward,” says Chris Prengels, CEO of Tiger Power.
To further enhance the project’s social impact, Tiger Power will manufacture its Sunfolds for the Indian market locally. Thanks to this deal Tiger Power and CER will be creating 600 new jobs.
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