StartupTalky

Tag: Energy

  • Know How Loom Solar became the Leading Solar Panel Company

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Loom Solar.

    As a developing country, India is facing many challenges, and no electricity supply for 24×7 is the biggest challenge for the government. With the introduction of new renewable solar energy, it has become easy to “Generate and own your electricity”. This energy is now affordable and compared to any other energy source and it’s green, clean, and sustainable.

    Loom Solar is India’s leading solar panel company founded by the Brother duo Amol and Amod Anand. Let’s get a glance at Loom Solar Success Story, Business Model, Products offered, Revenue, Growth, Startup Idea, and more…

    Loom Solar – Company Highlights

    Startup Name Loom Solar
    Founders Amod Anand, Amol Anand
    Founded 2018
    Headquarter Faridabad
    Sector Solar Industry
    Website loomsolar.com

    Loom Solar – About and Vision
    Loom Solar – Founders and Team
    Loom Solar – Products and USP
    Loom Solar – Market/Industry Details
    Loom Solar – Startup Idea
    Loom Solar – Name and Logo
    Loom Solar – Business Model and Revenue Model
    Loom Solar – Revenue
    Loom Solar – Startup Launch and Customer Acquisition
    Loom Solar – Startup Challenges
    Loom Solar – Marketing Strategy
    Loom Solar – Funding
    Loom Solar – Competitors
    Tools used by Loom Solar to run Business
    Loom Solar – Achievements and Recognition
    Loom Solar – Growth and Future Plans
    Loom Solar – FAQs

    Loom Solar – About and Vision

    Loom Solar is India’s No.1 leading solar company based in Faridabad, Haryana. It was Started in 2018. The company is well-known for its clean energy field. It is an ISO 9001:2015-certified company and a government-recognized startup in India. Loom Solar specializes in the manufacture of high-quality solar panels, inverters, batteries, and related solar products for the residential, commercial, and industrial sectors. Their products are known for their durability, quality, performance, and latest technology. The company has an extensive network of dealers and distributors spanning 500 districts in India and 3,500 dealers. Supported by a team of 100 employees, the company operates two offices and a single manufacturing unit.

    Loom Solar’s Vision: To become the most popular and trusted brand in solar by 2025.

    Loom Solar – Founders and Team

    Loom Solar Founders & Teams
    Loom Solar Founders & Teams

    Brothers duo Amol Anand and Amod Anand are the Founders of Loom Solar.

    Amol and Amod worked in corporate for almost 10 years. Thus, they have celar understanding and experience on business dynamics like how business process works, how to launch a product or how to do digitial marketing.

    Amol Anand (Co-founder, Loom Solar)

    Amol Anand is passionate professional worked in multiple MNC and Industries such as Telecom, Real Estate and Home Electrical companies before starting up the start-up LOOM SOLAR. He is a learner and MBA Graduate and from IMT Ghaziabad, He looks after Sales and marketing Division at Loom Solar

    Amod Anand (Co-founder, Loom Solar)

    Amod Anand is a MBA graduate from IMT Ghaziabad and has worked in Diversified role at in across Telecom and e-Commerce across multiple MNC, he spent more than 5 years in Bharti airtel building up the Mobile business. He Looks after Finance and Operations at Loom Solar.

    Working Culture of Loom Solar:

    Loom Solar is managed by professional leaders who have immense experience and expertise in this domain. The company looks forward to hire builders who can build a full-proof system, process, and team that can sustain for the next 25 years.

    A detailed journey for all the reader

    When Amol used to work at Luminous Technology Private Limited, he found that people were not much aware of solar energy. When Amol investigated it, he noticed three major problems with the use of solar energy in the country.

    People don’t have much knowledge about solar energy.

    Solar products were not available much.

    Solar technology was outdated.

    To aware people more about solar energy, both brothers duo started their company known as Loom Solar. It was founded in 2018 and started with the idea of providing a power supply to everyone.

    Since the start of the company, Loom Solar has achieved recognition and awards.

    • Golden Bridge Awards 2019

    • Amazon Smbhav 2020

    • Startup of the Year 2021

    • Energy Business of the Year 2021

    • Tie-Lumis Award 2022

    • e4m D2C Award 2022

    • Red Herring Award 2022

    10 Solar Business Ideas That Can Set You High Above The Crowd!
    Sunlight is an important source of renewable energy. Solar power is the
    conversion of this energy from sunlight into electricity, either directly using
    photovoltaics, or indirectly using concentrated solar power. Anyone can use
    solar cells to generate electricity from sunlight. Nowadays, the demand…
    StartupTalkyRishita Jain

    Loom Solar – Products and USP

    Products – there are two types of solar panels in the existing market.

    1) Poly crystalline panels – traditional technology, lower efficiency, bigger size and every company was selling it.

    2) Super High efficiency panels – Latest technology, higher efficiency and compact size (none of companies were focused)

    Loom Solar introduced Super high efficiency solar panels to differentiate itself in the Indian market form its competition. Across the globe Poly crystalline technology is widely used (98%) and only (2%) brand use Mono crystalline panels.

    Super high efficiency panels generates power in cloudy weather too, under low sun light too and efficiency of power generation is more than 20% from old technology (poly)

    Loom solar panel
    Loom solar panel

    How does the Loom Solar Product work?

    Once the solar panels are installed at the rooftop of house, it starts generating DC electricity. Then, with the help of inverter the electricity is fed to home. If, it gets excess then it is fed to discoms.

    Loom Solar USP-

    1. High Efficient advance technology : In India, more than 95% installation is done using poly crystalline technology. In Year 2018, Loom Solar was the first company who introduced 340 W mono crystalline panel in Indian Market and later on upgraded to 375 W.
    2. Due to intense competition in the market, all major player launched this mono panel module.
    3. Again LOOM SOLAR launched new technology based high efficient shark module 430 watt in year 2021.
    4. Due to Advance Product Features, Design, Capacity and high efficiency, this product is unique and not available in Indian Market
    5. Loom Solar is available on all platform offline (Channel Sales), online (amazon/flipkart/loomsolar) and GEM Portal
    6. Loom Solar offers solutions to customer instead of product components.

    Loom Solar – Market/Industry Details

    • Loom Solar Industry: Solar Energy
    • Target Market Size: 1,00,000 Cr in the year 2020 (Government has set a target to achieve 40 GW by the year 2022)
    • As per Mordor Intelligence Report, The Indian solar power market is expected to grow at a CAGR of more than 40% during the period 2020-2025.
    • According to IRENA, India had a total installed capacity of more than 34 GW of solar PV. Moreover, India is endowed with a very vast solar energy potential. The average solar radiation incident over the land is in the range of 4-7 kWh per day. Solar power played an almost non-existent role in the Indian energy mix until 2007.
    • Solar energy is becoming inexpensive in comparison to other conventional energy sources due to innovations in the solar sector.

    Renewable Energy Market, Size, Growth Trends and Forecasts
    India is furnished with vast solar energy potential. Solar is the most secure
    source of energy because it is abundantly available in nature. Solar power is
    the fastest developing industry in India. Solar power is a renewable source of
    energy. It is the power produced by the sun’s light. The solar en…
    StartupTalkyAditi Chawda

    Loom Solar – Startup Idea

    The idea of Loom Solar striked to Amol while working at Luminous Power Technology as the product manager. He realized that solar energy and its benefits are far more than he imagined. After doing intense research on government policy, target, and current status in India, the brother duo found an untapped opportunity in the market i.e. ‘Nobody started this on a large scale for the residential market’. Thus, Loom Solar was idealized.

    For any company to start up, there are 3 things:

    • Differentiating product
    • Reach – Distribution
    • Brand power

    Loom Solar introduced Super high-efficiency solar panels to differentiate itself in the Indian market from their competition. Across the globe Polycrystalline technology was widely used (98%) and only (2%) of brands use mono-crystalline panels.

    Distribution: Loom Solar focused on large buildings in digital and offline channels; It started operations across India with a focus on making products available near to customers. The strategy to deliver products across India including villages in 3 days helped make its offline distribution and logistics strong. Today, Loom Solar have 1500 re-sellers across India. It does 90% of dispatch is done on the same day and delivers maximum products within SLA.

    Brand: As a start-up company like Loom Solar, reaching the consumers was difficult. It started using a digital medium such as Google and YouTube to write content on the benefits of solar panel to help the environment. The team started creating videos on benefits and how to install solar panels at home. In 2019, the Loom Solar team created over 500 videos and it has been seen by 25 million users across the world. In terms of brand search, 30,000 people search about Loom Solar every month on Google.

    Loom Solar Logo
    Loom Solar Logo

    Since the main idea of this company is based on SOLAR + while searching for a domain to launch a website, the team liked the LOOM. (as it symbolized 2 OO, that looked nice same as GOOGLE). So, therefore, Loom Solar.

    Facts Everyone Should Know About Renewable Electricity Market In India
    As a developing country with the world’s second largest population, renewable
    energy plays a vital role in the economic development of our country. With the
    fossil fuel depleting and creating more pollution causing global warming and
    demand for energy increasing by the day creating electricity out o…
    StartupTalkyPV Vyshnavi

    Loom Solar – Business Model and Revenue Model

    Loom Solar’s Business Model is Direct Sales. It sells its products directly to end user via online and offline channels. The business of Loom Solar is operated as commerce model.

    The Price Range of Loom Solar Products/Services: Rs. 750 to 3 Lacs

    Profitable Business Ideas To Try In 2021
    Choosing the right idea for a new business in 2021 [/how-launch-new-business/] can be difficult and confusing. This task needs to be done very carefully and
    one should keep in mind many things while choosing an idea for his/her new
    business. One of the most important things to keep in mind when sel…
    StartupTalkyYash Taneja

    Loom Solar – Revenue

    Loom Solar’s Revenue for 2020 was at Rs. 30 Crores. In 2019, It had revenue of 19.2 crore, whereas in 2018 Loom Solar’s revenue stood at Rs. 2.4 Crore.

    Loom Solar – Startup Launch and Customer Acquisition

    The team had good experience in digital marketing (organic/paid). So, they focused more on digital platform like Google. In just 30 days, Loom Solar got over 100 customers.

    3 things that helped Loom Solar retain customers:

    • Focus on organic growth
    • Providing complete solutions to customer, and
    • Serve customers well for repeat transactions.

    Loom Solar – Startup Challenges

    The most challenging part for Loom Solar was ‘Pricing’. Since India is a sensitive market, the founders faced the dilemma of charging either high/low than the existing leaders in the company. By providing high technology and advanced products, Loom Solar was able to tap the market with the ‘Right Price’ that suited both customer and company needs.

    Loom Solar – Marketing Strategy

    No Experienced centers for solar products in the local markets (3,500 shops across India, including rural areas)

    Solar Awareness (they started making videos about solar products and published them on YouTube & Facebook. Now, they have 1.73L subscribers on YouTube and 1.02L followers on Facebook. They were also taking the help of the influencers to reach more people. They are reaching 100M+ people every year through digital platforms.

    Solar Finance (The cost of solar system installation is higher as home and car, so to provide easy financing options. The consumer needs to pay only 20-30% down payment, and they can make flexible EMI options equal to current electricity bills.)

    Engineer Visit (A solar system installation is technical homework. Most of the consumers don’t have an idea of how much capacity of the solar power plant is required for their homes and businesses. To make an easy process of rooftop solar installation, they provide an engineer visit across India. This is a paid service in which their engineer visits the consumer’s site location. Then, theybprovide a solar quotation.)

    Learn Solar (This is their free training program in which any person can learn about solar. This is an online program.)

    Challenges

    At the time of the start, the big challenge for Loom Solar was to fight against the big brands, establish themself as a trustworthy brand, and gain customer support and trust. Achieving these things in the market was the biggest challenge at the initial stage, and making a good brand value in the solar sector and building trust among the customers.

    The coronavirus made fewer people want to buy things, so stores didn’t sell as much. This happened because lockdowns stopped people from shopping in local stores. Amol Anand noticed that small businesses that make things had a hard time, especially with having enough money. But big businesses that make things already had orders from construction companies, so they weren’t hurt as much.

    To gain customers’ trust, they started quick delivery of solar products and installation services. They also compete with product pricing and quality and the integrity of Loom Solar, says the Loom Solar Team.

    Their biggest challenge was its limited budget. They needed to do a lot of things like promoting their product and brand, getting customers, making solar products available that people wanted, and giving them fast service. And they had to do all of this with not much money. Luckily, their team was helpful and worked hard to make the most of what they had.

    Low-Cost Marketing Strategies For Startups| Low Budget Marketing Ideas
    Though it’s a fact that you have to spend money to make money, especially in
    marketing. However, the rise of social media and digital marketing has made it
    easier and quite inexpensive to market a business. However, today, even a small
    business startup entrepreneur can be creative with their marketi…
    StartupTalkyNiku Mandal

    Loom Solar – Funding

    Loom Solar raised the funding of $2 million from Social Investment Managers and Advisors (SIMA) in the US. The funding comes through the Energy Access Relief Fund (EARF), which is backed by the World Bank, DFC, BII, FMO, IFC, and other organizations. Loom Solar is Bootstrapped.

    Loom Solar – Competitors

    Tata Power Solar, Havells, Luminous and Waaree are the Top Competitors of Loom Solar.

    Tools Used By Loom Solar to Run Business

    Loom Solar has been a firm believer in technology, from order management to service, it uses a large number of integrated tools such as Shopify, Zoho, GreytHR, Knowlarity, and ERP for day-to-day customer, employee, and supplier management,

    Loom Solar – Achievements and Recognition

    The following are the achievements and recognitions of Loom Solar-

    1. Won Gold and Silver award in the 11th Annual 2019 Golden Bridge Business and Innovation Awards at United States of America
    2. Won Fastest growing SMB of 2020 in Amazon Sambhav
    3. Won Energy business of the year at Small Business Awards in 2021
    4. Installed solar system in over 50,000 houses

    Loom Solar – Growth and Future Plans

    • Loom Solar has a capacity to manufacturers 3,65,000 solar panels a year in 2021, the capacity will be extended in coming years,
    • In terms of Market, Loom Solar wants to become the category leader by 2025 with a revenue share of 10-15% in a 5,000 Cr. Residential and commercial solar Market,
    • On New products, Loom Solar will keep on innovating super high-efficiency panels and could take entry into the Lithium battery market.

    Loom Solar – FAQs

    Where is Loom Solar’s Manufacturing unit?

    The Solar panel manufacturing unit of Loom Solar is located in Sonipat Haryana.

    How many people work at Loom Solar?

    Loom Solar has a team of 100 people working across 3 locations in India namely the Corporate office, Warehouse, and Manufacturing unit.

    How many resellers at Loom Solar?

    Loom Solar has a team of 10,000 resellers working across India. Loom Solar’s established reputation and support.

    Does Loom Solar export the product to other countries such as USA, Australia, Africa, Dubai, and Gulf countries?

    Yes, made-in-India solar panels are in demand across the world, Loom Solar is an A-grade quality manufacturer and exports the product to many global countries.

    Does Loom Solar have a Research and Development Team for new product innovation?

    There is a dedicated team for R&D that brings new products for the company in Indian Markets such as Lithium battery, Solar panels, and other Accessories that are used with the Solar panels.

    Who are the Founders of Loom Solar?

    Amol Anand and Amod Anand are the Founders of Loom Solar.

    How Much is Loom Solar’s Revenue?

    Loom Solar’s Revenue for 2020 was at Rs. 30 Crores. In 2019, It had revenue of 19.2 crore, whereas in 2018 Loom Solar’s revenue stood at Rs. 2.4 Crore.

    Where is the headquarters of Loom Solar?

    The headquarters of Loom Solar is in Faridabad, Haryana (India).

  • List of Top 20 Richest People of Asia in 2021

    Even during the pandemic, the net worth of many billionaires have been growing consistently. According to Forbes, the number of billionaires in the Forbes 35th list of the world wealthiest people, the number of billionaires have increased to 2,755, which was 660 more than a year ago.

    Everyone knows that the richest person on the planet is Elon Musk with a net worth of $203.4 billion, followed by Jeff Bezos with $192.2 billion and Bernard Arnault & family with $185.8 billion, as of October 16, 2021. But do you know the top twenty richest people in Asia? According to Bloomberg Billionaire Index and the Forbes Billionaires List, the top 15 richest people in Asia, collectively account to over $500 billion.

    The people in this list are self-made, big tech tycoons and real estate giants. The person who takes the top spot in the list of Asia is none other than India’s richest person, Mukesh Ambani who is the Chairman of the conglomerate, Reliance Industries Ltd. The other high profile billionaires from the continent are Jack Ma, Gautam Adani, Zhong Shanshan, Ma Huateng, Li Ka-Shing, etc. To find out who else made the top 20 according to Forbes.

    1. Mukesh Ambani
    2. Zhong Shanchan
    3. Gautam Adani
    4. Robin Zeng
    5. Ma Huateng
    6. Zhang Yiming
    7. Jack Ma
    8. Li Ka Shing
    9. He Xiangjian
    10. Lee Shau Kee
    11. Colin Huang
    12. Tadashi Yanai
    13. Ding Lei
    14. Wang Wei
    15. Takemitsu Takizaki
    16. Masayoshi Son
    17. Yang Huiyan
    18. Qin Yinglin
    19. Pang Kang
    20. Li Xiting
    Frequently Asked Questions

    Here is the list of the Top 20 Richest People in Asia.

    1. Mukesh Ambani

    Chairman/MD Reliance Industries Ltd
    Net Worth US$100.6 billion (as of October 2021)
    Industry Energy, Telecom, Retail, Petrochemicals, Textiles and Natural Resources
    Country India
    Age 64 (2021)

    Mukesh Ambani
    Mukesh Ambani

    Mukesh Dhirubhai Ambani is an Indian Billionaire Businessman, the Chairman, Managing Director and the largest shareholder of the Reliance Industries Ltd., which is an energy and telecom multinational conglomerate.

    Reliance Industries owns business across India and has its foothold in the industries such as energy, petrochemicals, textiles, natural resources, retail and even telecommunications. The company is also in the list of the Fortune Global 500 Company and is the country most valuable company as per its market value.

    Ambani is credited for creating Jio, an affordable 4G phone service in India. The billionaire also owns an Indian Premier League team known as the Mumbai Indians and also has a property worth more than $400 million. As of 16th October 2021, Mukesh Ambani is the richest person not only in India but also Asia with a net worth of US $100.6 billion and is also the 11th richest person in the world. The head honcho of Reliance India Limited has joined the coveted club of billionaires with a fortune of at least $100 billion on 8th October 2021, Friday, following the rapid rise of the stocks of the conglomerate.

    2. Zhong Shanchan

    Founder/ CEO Nongfu Spring
    Majority stake holder Beijing Wantai Biological Pharmacy Enterprise
    Net Worth US$71.6 billion (as of 28th May 2021)
    Industry Beverage and Pharmacy
    Country China
    Age 67

    Zhong Shanshan
    Zhong Shanshan

    Zhong Shanshan is a Chinese billionaire businessman, the founder and chairman of Nongfu Spring which is a popular beverage company in China and a majority stake holder of Beijing Wantai Biological Pharmacy Enterprise.

    Nongfu Spring is a bottled water and beverage company that went public in September 2020, the company recently tripled its value to $85 billion. As of 16th October 2021, the net worth of Shangshan is $71.6 billion, making him the richest person in China, the 2nd richest person in Asia after Gautam Adani.

    He became the second richest person in Asia due to the recent stock listing of Nongfu and also because Wantai Biological managed to tap into the high demand of Covid 19 kits. Zhong Shanshan is also known to have accumulated his wealth the fastest in history, according to Bloomberg.

    Productive Habits of Rich People
    > “You don’t decide your future. You decide your habits and your habits decideyour future.”Our habits essentially make us who we are, and what we are expected to be, byothers as well as our own selves. And habits play a very important roledetermining how successful we are and will be with time. …
    StartupTalkyAshwini

    3. Gautam Adani

    Founder/ CEO Adani Group
    Net Worth US $75.20 billion (as of October 2021)
    Industry Resources, Logistics, Energy, Energy, Defence, Aerospace, Real Estate, Financial, etc.
    Country India
    Age 59 (2021)

    Gautam Adani
    Gautam Adani

    Gautam Shantilal Adani is an Indian Billionaire Industrialist, the Founder and Chairman of the Adani Group. Adani Group is an Indian multinational conglomerate that has diverse businesses across the industries of resources, logistics, energy, energy, defense, aerospace, real estate, financial, etc.

    Adani Group has an annual revenue of more than US $13 billion with operations in more than 50 countries. Adani is especially known for being a port developer and operator and is known for having the largest port in the country known as the Mundra port.

    As of 2018, Gautam Adani has over 66% stake in Adani Ports & SEZ, 75% stake in Adani Enterprises, 73% stake in Adani Power, and a 75% stake in Adani Transmission. As of 16th October 2021, Gautam Adani has a net worth of US $75.20 Billion, making him the second richest person in Asia. He had recently overtaken Chinese bottled water producer, Zhong Shanshan in September 2021.

    4. Robin Zeng

    Founder/ Chairman Contemporary Amperex Technology
    Net Worth US $50.70 billion (as of October 2021)
    Industry Automotive Li-ion Batteries, Energy Storage Systems, Battery Recycling
    Country China
    Age 53 (2021)

    Robin Zeng
    Robin Zeng

    Robin Zeng also known as Zeng Yuqun is a Chinese billionaire entrepreneur, the Founder and Chairman of Contemporary Amperex Technology (CATL).

    The CATL is well known Chinese’s battery manufacturer and Technology Company that specializes in making lithium-ion battery for electric vehicles, battery management systems. Zeng is among the richest people in China and in Asia. With a net worth of $50.70 billion, he recently overtook Jack Ma, as per the reports dated October 16, 2021.

    5. Ma Huateng

    Chairman/MD Tencent Holdings
    Net Worth US$49.10 billion (as of October 2021)
    Industry Technology
    Country China
    Age 49 (2021)

    Ma Huateng
    Ma Huateng

    Ma Huateng, also known as Pony Ma is a Chinese Billionaire Businessman, the Founder, Chairman and CEO of Tencent. Tencent is the continent’s most valuable company and one of the largest internet and Technology Company.

    Besides , Tencent is also one of the biggest investment, gaming and entertainment conglomerate in the world known for developing China’s instant messaging app called WeChat. According to Time magazine Ma Huateng is one of the most influencial people in 2018, while Fortune also ranked him as among the top businessmen of the year in 2017.

    The businessman wealth comes from the 9.7% stake in Tencent holdings. He is known to own properties in Hong Kong and art pieces that are worth over US $150 million. As of 16th October 2021, the net worth of Ma Huateng is US $49.10 billion, making him one of the richest people in China and the 5th richest person in Asia.

    List of the Most Famous Entrepreneurs You Must Know About | 2021 Updated
    Famous and popular entrepreneurs [https://startuptalky.com/tag/entrepreneurs/] are the one who changed the way the world think about stuff. These popular andfamous inspirational business [https://startuptalky.com/tag/business-2/…
    StartupTalkyAshwini

    6. Zhang Yiming

    Founder/ Former CEO ByteDance
    Net Worth US $44 billion (as of October 2021)
    Industry Internet Technology
    Country China
    Age 38 (2021)

    Zhang Yiming
    Zhang Yiming

    Zhang Yiming is a Chinese Billionaire Businessman and the Founder of ByteDance and developer for the news aggregator Toutiao and the world renowned video sharing platform TikTok. ByteDance is a Chinese multinational internet tech company known for developing video sharing and social networking sites like TikTok and Douyin.

    ByteDance also developed an app known as Toutiao, which is a platform that delivers news content in various forms. As of 2018, ByteDance has over 800 million daily users across all its content platforms and has been valued at $250 billion as of 2021. According to Bloomberg billionaires index Zhang’s personal wealth is estimated to be around $44 billion.

    Zhang Yiming stepped down from the position of CEO of Bytedance to embrace a new role within the company on 20th May 2021.

    7. Jack Ma

    Founder/ CEO Alibaba Group
    Net Worth US$42.30 billion (as of October 2021)
    Industry Technology, E-commerce, Retail
    Country China
    Age 56 (2021)

    Jack Ma
    Jack Ma

    Jack Ma is a Chinese billionaire businessman, the Founder and former Executive Chairman of Alibaba Group. Alibaba is a Multinational Technology Conglomerate that specializes in E-commerce, retail, technology and offers C2C, B2C and B2B sales, electronic payments, shopping search engines and cloud computing services.

    Alibaba is the world largest retailers and e-commerce companies and has the 6th highest global brand valuation in 2018. Jack Ma was ranked 2nd in the Forbes list of the World 50 greatest leaders and is also a popular philanthropist as he has supported many underprivileged communities in China, Africa, Australia, and the Middle East.

    As of 16th October 2021, the net worth of Jack Ma is US$42.3 billion making him a distinguished billionaire in China and the 7th richest person in Asia.

    8. Li Ka Shing

    Chairman Li Ka Shing Foundation
    Net Worth US $31.80 Billion (As of October 2021)
    Industry Real Estate
    Country Hong Kong
    Age 92 (2021)

    Li Ka Shing is a Hong Kong businessman, an investor and well known philanthropist. He is the senior advisor and former chairman of the board for CK Hutchison Holdings and CK Asset Holdings. Li Ka Shing is 92 years old and is known to be the world leading port investor, developer and operator of the largest health and beauty and retailer in Asia and Europe.

    According to Forbes Hong Kong Fortune league chart, Li Ka Shing became the richest person in Hong Kong in February 2021. Li is often regarded as “Superman li” by the Hong Kong media because of his business prowess, he also is the most influential entrepreneurs in the continent.

    Li presides over a huge business empire that has its foothold in the industries such as transportation, real estate, financial services, retail, and energy and utilities. The billionaire is also a philanthropist that leads a simple life and has donated billions of dollars to charity and causes making him Asia most generous philanthropists.

    As of 16th October 2021, Li Ka Shing net worth is over US $31.80 Billion making him one of the richest person in Hong Kong and among the richest in Asia.

    9. He Xiangjian

    Founder Midea Group
    Net Worth US$31.70 billion (as of October 2021)
    Industry Consumer appliances
    Country China
    Age 79 (2021)

    He Xiangjian
    He Xiangjian

    He Xiangjian is the Co-founder of Midea Group, which is known to be one of the world’s largest appliance makers. Midea Group is electrical appliances manufacturer that has more than 200 subsidiaries.

    The company is known for its products like lighting, water appliance, floor care, small kitchen appliance, laundry, cooking appliance and refrigeration appliances. According to Bloomberg Billionaire Index, Xiangjian was ranked the 44th place as his net worth was $32.7 billion in April 2021.

    Media is also the world largest producers of robots and appliances which is why the company was also listed in the Fortune Global 500 since 2016. He Xiangjian stepped down from the company operation in 2012, but is still one among the richest in China and Asia with a wealth of $32.70 billion.

    10. Lee Shau Kee

    Founder/Chairman Henderson Land Development
    Net Worth US $31.10 billion (as of October 2021)
    Industry Real Estate
    Country Hong Kong
    Age 93 (2021)

    Le Shau Kee
    Le Shau Kee

    Le Shau Kee is a billionaire businessman from Hong Kong, real estate tycoon, founder and former chairman of Henderson Land Development. Henderson Land Development is a well known property conglomerate with stakes in property, hotels, restaurants and internet services.

    The company’s main activities are property development, investment, project management, construction, hotel operation, finance, investment holding and infrastructure. The billionaire controlled over 70.17% of the share capital of the company as of 2015.

    Kee stepped down from the position of chairman in 2019 at the age of 91 and passed the mantel to his sons. Le Shau Kee is one of the richest people in Hong Kong and in Asia. His net worth is estimated to be $31.10 billion, as of 16th October 2021.

    11. Colin Huang

    Founder/ CEO Pinduoduo
    Net Worth US$31.10 billion (as of October 2021)
    Industry E-commerce, Agriculture
    Country China
    Age 41 (2021)

    Colin Huang
    Colin Huang

    Colin Huang also known as Huang Zheng is a Chinese billionaire businessman, the Founder and CEO of Pinduoduo. Pinduoduo is a leading E-commerce and the largest agriculture-focused technology platform in China. Pinduoduo’s main objective is to connect farmers and distributors directly with the consumers and provide an interactive shopping experience.

    Over 600,000 merchants have sold their produce through the platform with more than 12 million farmers supplying their fruits and vegetable to the merchants. According to Bloomberg, the platform has over 628 million customers and made $4.2 billion in 2019. Huang has also founded two other popular internet based companies known as Xinyoudi (a gaming business) and Ouku.com (an e-commerce platform).

    The businessman has grown his wealth steadily in the recent years, climbing the global ranks from number 94 in 2019, to number 57 in 2020, and then 21. As of 16th October 2021, Colin Huang net worth is US$31.10 billion, which makes him the one of the richest people in China and the 11st richest person in Asia.

    Top 50 Richest Indians in 2020: Comprehensive List
    India is home to some insanely wealthy families and individuals well-knownacross the globe. India has the third largest group of rich people[https://startuptalky.com/demerits-disadvantage-rich/] after the US and China —121 people out of the 2068 individuals that Forbes took into account for itsa…
    StartupTalkyAshwini

    12. Tadashi Yanai

    Founder/ Chairman Fast Retailing
    Net Worth US$32.5 billion (as of October 2021)
    Industry Retail
    Country Japan
    Age 72 (2021)

    Tadashi Yanai
    Tadashi Yanai

    Tadashi Yanai is a Japanese Billionaire businessman, the Founder and President of Fast Retailing. Fast Retailing is public Japanese retail holding company that owns more than a 1000 stores. The company owns popular Japanese subsidiaries like Uniqlo, J brand, Comptoir des Cotonniers, GU, Princesse Tam Tam and Theory.

    He is also the biggest shareholder of Asia’s largest clothing retailer known as Uniqlo. According to Bloomberg Billionaire Index, Tadashi Yanai became the richest person in Japan and the 34th richest person in the world, as his net worth was estimated to be $42.billion as of April 2021.

    However, as of 16th October 2021, the billionaire’s net worth is US $32.5 billion, making him the richest person in Japan and among the richest in Asia.

    13. Ding Lei

    Founder/CEO NetEase
    Net Worth US $29.8 billion (as of October 2021)
    Industry Technology
    Country China
    Age 49 (2021)

    Ding Lei is also known as William ding is a Chinese Billionaire businessman, the Founder and CEO of NetEase. NetEase is Internet Tech Company known for its services like content, community, communications and commerce. The company also develops online PC and mobile games, advertising services and e-commerce platforms in China.

    NetEase is one of the largest internet and video game companies in the world. Besides gaming, NetEase works with other online media entertainment like movies and music. Ding Lei is known to have made many contributions to the development of computer networks in China, while his company work with Blizzard Entertainment and Microsoft subsidiary Mojang.

    According to Bloomberg, the net worth of Ding Lei as of 16th October 2021 is $29.8 billion, making him one of the richest people in China and in Asia.

    14. Wang Wei

    Founder/Chairman SF Express
    Net Worth US $28.8 billion (16th October 2021)
    Industry International express delivery and logistics services
    Country China
    Age 50 (2021)

    Wang Wei is a Chinese billionaire businessman, the Founder and Chairman of SF Express. SF Express is a multinational express delivery services and logistics company. The company is the 2nd largest courier in China as it provides domestic and international express delivery.

    It is also known for the SF Airlines which has a fleet of 50 cargo aircrafts. SF Express began in 2009 and has transported more than two million tonnes of cargo till 2018. This is why the SF Express is known as the “Fedex of China.”

    As of 16th October 2021, the net worth of Wang Wei is US $28.8 billion, making him one among the richest people in China as well as in Asia.

    15. Takemitsu Takizaki

    Founder/Chairman Keyence
    Net Worth $28.5 billion (as of October 2021)
    Industry Technology
    Country Japan
    Age 75 (2021)

    Takemitsu Takizaki is a Japanese bilionaire businessman, founder and chairman of Keyence. Keyence is a well-known manufacturer of automation sensors, vision systems, barcode readers, laser markers, measuring instruments, and digital microscopes.

    The company has many big brands as its clients Toyota, Toshiba, and Volkswagen. Takizaki stepped down as the company chairman but still has a net worth of $28.5 billion, as of 16th October 2021, making him one of the richest people in Japan and Asia.

    16. Masayoshi Son

    Founder/ CEO Softbank
    Net Worth US$28.20 billion (as of October 2021)
    Industry Investment
    Country Japan
    Age 63 (2021)

    Masayoshi Son
    Masayoshi Son

    Masayoshi Son is a Japanese billionaire entrepreneur, the Founder and CEO of SoftBank and also the chairman of the UK based Arm Holdings. Softbank is a well-known Japanese multinational holding company that operates in the areas of broadband, fixed-line telecommunications, e-commerce, internet, technology services, finance, media and marketing, semiconductor design, etc.

    The company was also ranked 36th in the list of Forbes Global 2000. Masayoshi Son’s net worth is estimated to be $28.2 billion as of 16th October 2021, making him the one of the richest people in Japan and the 16th richest person in Asia. Masayoshi was also ranked as the 45th in the list of Most Powerful People, according to Forbes.

    Income of the Top Richest people in the world | [2021 Updated]
    With the increase in their wealth, the richest of the people also inspire theworld to come to their level. However, very few people can hustle as the richestdo. Hence, top inspire more people to hustle and motivate them, here is a listof the top world richest man monthly income in a year, month, …
    StartupTalkyAshwini

    Shocking Demerits Of Being Rich
    > “Before you speak, listen. Before you write, think. Before you spend, earn.Before you invest, investigate. Before you criticize, wait. Before you pray,forgive. Before you quit, try. Before you retire, save. Before you die, give.” – William A. WardDemerits of being RichWho doesn’t want to be r…
    StartupTalkyAshwini

    17. Yang Huiyan

    Chairman and Majority stake holder Country Garden Holdings and Bright Scholar Education Holdings
    Net Worth US $27.3 billion (as of August 2021)
    Industry Real Estate
    Country China
    Age 40 (2021)

    Yang Huiyan
    Yang Huiyan

    Yang Huiyan is a Chinese billionaire businesswoman, Property developer and a majority stakeholder of Country Garden Holdings, 70% of shares of the company were transferred to her by her father Yang Guoqiang in 2007.

    The Country Garden is a property development company that constructs buildings and manages hotels in China, owned by Yang’s family. The company was ranked 147thin the Fortunes Global 500 list. Country Garden has more than 200 high-end township developments in countries like China, Malaysia, and Australia.

    As of August 2021, Yang Huiyan’s net worth is estimated to be $27.3 billion, making her not only the richest woman in China but also the richest woman in Asia.

    Real Estate Business Ideas You Can Start in India
    The business of real estate is serious business and today, it is almost become agold mine. Truth be told, there are many entrepreneurs[https://startuptalky.com/tag/entrepreneurs/] who have tapped into it and are makingmillions. People are always on the lookout to buy houses and buildings and are…
    StartupTalkyAshwini

    18. Qin Yinglin

    Founder/Chairman Muyuan Foodstuff
    Net Worth US $25 billion (as of October 2021)
    Industry Food and beverage
    Country China
    Age 56 (2021)

    Qin Yinglin is a Chinese billionaire, founder and chairman of Muyuan Foodstuff. Muyuan is a popular pig breeding and distribution company that breeds and sells pigs and pork products. Qin is known to have started the company with his wife in 1992, and by 2019 the company made $3 billion.

    The agriculture billionaire is known to be the “the country’s largest pig breeder in the world’s biggest pork market”, according to Forbes. Qin is famous as the world’s richest farmer. His net worth is estimated to be $25 billion, as of 16th October 2021. This makes him one of the richest people in China and in Asia.

    Top 10 Richest Real Estate Developers in India
    Real Estate is always considered as one of the best investments by Indians.There are a number of real-estate companies in India. In a country like Indiawhere the population is increasing, the real estate industry is considered togrow much more in the near future. The increase in demand for the r…
    StartupTalkyAlan Joseph

    19. Pang Kang

    Chairman Foshan Haitian Flavouring and Food Co.
    Net Worth US $23.80 billion (as of October 2021)
    Industry Food and beverage
    Country China
    Age 65 (2021)

    Pang Kang is a Chinese billionaire businessman and the chairman of a popular food and beverage company known as Foshan Haitian Flavoring and Food Co. The company manufactures a wide variety of sauces and flavoring, it is also the largest manufacturer of Soy Sauce in the world.

    Based in China’s Guangdong providence, the food company made $2.9 billion in 2019, within five years of its launch. Foshan also makes over 200 different condiments such as oyster sauce, hoisin, shrimp, vinegar, and chicken stock.

    As of 16th October 2021, the net worth of Pang Kang is over $23.80 billion, making him one of the richest people in China and in Asia as well.

    20. Li Xiting

    Founder/Chairman Shenzhen Mindray Bio-Medical Electronics
    Net Worth US $21.30 billion (as of October 2021)
    Industry Medical Electronics
    Country Singapore
    Age 70 (2021)

    Li Xiting is a Singaporean billionaire, Founder and former Chairman of Shenzhen Mindray Bio-Medical Electronics. Over the year the billionaire has been one of the pioneers in the world of healthcare. While his company is known to operate in 30 countries and have over 17 subsidiaries.

    Mindray is known for its healthcare devices such as health monitoring systems, ventilators, defibrillators, anesthesia machines and infusion systems. According to Forbes, Li Xiting is the richest person in Singapore in 2020. As of 16th October 2021, the net worth of Li Xiting is $21.30 billion, making him the richest Singaporean and among the richest people in Asia.

    The Rise Of South Asian CEO’s | Top CEOs from Fortune 500 Companies
    The top ranking executive of a company is called as CEO (chief executiveofficer). They have so many responsibilities. It includes making importantdecisions of the company, management of all operations of the company,management of the resources of the company, etc. The public face of a company is…
    StartupTalkyATHUL C K

    Case Study Of Adani Group: Challenges, Solutions And Results
    The Adani group is an Indian multinational conglomerate with a revenue of about$12 billion for the financial year 2015 to 2016. The company headquartered inAhmedabad, Gujarat, India. Adani is a leading global integrated infrastructureplayer that includes diverse businesses like coal trading, coal…
    StartupTalkyPV Vyshnavi

    Frequently Asked Questions

    Who are the top three richest people of the world?

    The top three billionaires of the world are Elon Musk, with a net worth of $203.4 billion, followed by Jeff Bezos with $197.7 billion and Bernard Arnault with $193.2 billion, as of 16th October 2021.

    Who are the top ten richest people of Asia?

    The top ten richest billionaires of Asia are Mukesh Ambani, Zhong Shanchan, Gautam Adani, Robin Zeng, Ma Huateng, Zhang Yiming, Jack Ma, Li Ka Shing, He Xiangjian, Le Shau Kee.

    Who are the other top people of Asia?

    The other top billionaires of Asia are He Xiangjian, Ding Lei, Li Ka Shing, Yang Huiyan, Wang Wei, Pang Kang, Li Xiting, Qin Yinglin and Takemitsu Takizaki.

  • Marketing Strategy of Indian Oil Corporation Limited (IOCL)

    Indian Oil Corporation Limited or Indian Oil is one of the largest Indian government-owned Oil and Gas Companies. The company was founded in 1959 and is currently the largest commercial oil and petroleum enterprise in India. IOCL ranks 151st position in Fortune Global 500 list and 2nd in Fortune India 500 list for the year 2020.

    IOCL has so far been successful in meeting the fuel demands put up by the world’s second most populated country. Let’s see what they’re doing differently from their competitors to improve their brand image. In this article, we will try to shift the focus towards the marketing strategy of Indian Oil Corporation Limited.

    IOCL – Company Highlights

    Company Name Indian Oil Corporation Limited
    Headquarters New Delhi (headquarters), Mumbai (registered office)
    Industry Energy: Oil and gas
    Chairman Shrikant Madhav Vaidya
    Founded 1959
    Website iocl.com

    Overview of Indian Oil Corporation Limited (IOCL)
    IOCL Marketing Mix
    IOCL – Product Strategy
    IOCL – Pricing Strategy
    IOCL – Place & Distribution Strategy
    IOCL – Promotion Strategy
    IOCL – Conclusion
    IOCL – FAQs

    Economical Impact of COVID-19 on Oil and fuel Industries all over the world
    The effects of the novel Corona virus on the oil industry has shook the world completely. Since the start of the market, Oil prices have hit the rock bottom.
    StartupTalkyVibhavari Madki

    Overview of Indian Oil Corporation Limited (IOCL)

    Indian Oil Corporation Limited was founded in 1959 and since then handled the responsibility of meeting the fuel demands of India. The company is under the control of the Government of India & the Ministry of Petroleum and Natural Gas. As of 2020, the oil and gas company earned a net profit of ₹43,242 crores (US$6.1 billion) in sales turnover among India’s most profitable state-owned companies.

    The company is an expert in the production of crude oil, natural gas, petrochemicals, refining, pipeline transportation and marketing of these products. The IOCL holds nearly 35% of national refining capacity together with its subsidiary Chennai Petroleum Corporation Limited (CPCL) and 65% downstream sector pipelines through capacity.

    All About Indian Oil Corporation Limited

    The Indian Oil Corporation is known to have over 33,500 employees along with its subsidiaries in countries like Sri Lanka, Mauritius, the UAE, Singapore, Sweden, the USA and the Netherlands. The company is currently setting up over 20 joint ventures with reputed business partners from India and abroad to explore global opportunities. Some of the International Indian oil corporation subsidiaries are Lanka IOC in Sri Lanka, IndianOil Mauritius, and the IOC Middle East FZE.

    In January 2021, IOCL overall sales were at an all-time high of 4,10,000 barrels of oil. Some of the main competitors of Indian Oil Corporation Limited are:

    • Hindustan Petroleum
    • Bharat Petroleum
    • Essar Oil & Shell
    • Reliance Industries
    • Mangalore Refinery and Petrochemicals Limited

    So how does a company like Indian Oil Corporation Limited markets its product effectively and efficiently that it beats all its competitors to scale up in the oil and gas sector? Let’s see their unique marketing strategies.

    The Impact of Lockdown Extension on Electric Vehicle(EV) Sector
    PM Modi has extended the Lockdown in India till May 3. The extension will create many new problems for EV sector. This impact will last long on EV market.
    StartupTalkyVarad Kitey

    IOCL Marketing Mix

    The marketing mix usually refers to the set of actions, or tactics, that a company uses to promote its brand or product in a particular market. The marketing mix is the best business strategy of Indian Oil Corporation as it is centered around the product, price, place, promotion and nowadays also includes Packaging, Positioning, People and even Politics.

    The IOCL’s business model is based on the Indian Oil Corporation (IOCL) marketing mix that helps the brand to succeed. The marketing mix of Indian Oil Corporation also analyses and explains the marketing strategy for petroleum products. There are different types of marketing strategies such as product innovation, pricing approach, promotion planning, etc.

    The company’s marketing mix explains the importance of the product, pricing, advertising and distribution strategies used by the Indian Oil Corporation (IOCL). Indian Oil Corporation’s marketing strategy has so far successfully helped the company to position itself competitively in the market, and achieve its business goals and objectives effectively and efficiently. Let us start the Indian Oil Corporation’s (IOCL) Marketing Strategy & Mix to understand its product, pricing, advertising and distribution strategies.

    IOCL Product Strategy

    Indian Oil Corporation is one of the leading oil and gas companies not only in India but worldwide. Indian Oil Corporation is present across the hydrocarbon value chain and accounts for over half of the country’s petroleum products market. IOCL also has over 35% share in refining and 65% share in the downstream sector pipelines. Out of the total 23 Indian refineries, the company owns and operates 11 of them.

    Indian Oil Corporation’s product portfolio in its marketing mix includes Indane gas, Autogas, Natural gas, petrol, diesel, jet fuel, lubricants & greases, kerosene, industrial fuels, Bitumen, petrochemicals, crude oil and some other special products. While its other businesses include refineries, pipeline transportation, distribution & marketing and Research & Development.

    The company is also known for the popular brands under it, which are Indane LPG, SERVO Lubricants, Autogas LPG, XtraPremium Petrol, XtraMile Diesel and PROPEL petrochemicals. These brands have the added advantage of established customer awareness. The marketing strategy for petroleum products has made it possible for the company to become a leader in various sectors.

    Crude Oil Prices Fall below Zero for the First Time
    A oversupply in the global energy market, shortage of storage capacity and COVID-19 [https://startuptalky.com/tag/covid-19/]pandemic induced lack of demandpushed the West Texas Intermediate (WTI) benchmark US crude oil to below $0 abarrel for the first time in history on April 20. In New York, We…
    StartupTalkyVarad Kitey

    IOCL Pricing Strategy

    The IOCL pricing strategy runs on the idea of profit-making. In 2020, the profit of IOCL was estimated to be $6.1 billion. Since the Indian Oil Corporation is a government-owned company, some of the pricing decisions are made by the Central Government of India after considering the taxes and subsidies. The IOCL prices are different in different states and cities as geographical pricing mechanism is followed in its marketing mix.

    The prices are commonly divided on the basis of metro cities, state capitals and National Capital Region (NCR). The prices in each product category (2021) are:

    • Petrol prices vary between Rs.101.84 to Rs.130.23 per liter depending on location.
    • Diesel prices have crossed Rs.90 per liter in most major cities.
    • Autogas price ranges from Rs.55 to Rs.57.
    • ATF price ranges from Rs.59400 to Rs.74000 per KL for domestic airlines and $602-800 per KL for international airlines.
    • Indane Gas’s price range is between Rs.834-944 per 14.2 Kg Cylinder.

    How Does Fuel Pricing Affects all the Industries?
    As the fuel prices in India are reaching sky high, let’s understand how different sectors are affected by it.
    StartupTalkyPratyusha Srivastava

    IOCL Place & Distribution Strategy

    Indian Oil Corporation Stock history
    Indian Oil Corporation Stock history 

    The IOCL’s marketing mix is based on its wide geographic presence, as it holds and controls 10 refineries (Paradip, Panipat, Mathura, Haldia, Gujarat, Barauni, Bongaigaon, Guwahati, etc) across the country. Besides that, the company also controls over 10,900 km of pipeline connecting to high-demand places, 132 Km of gas pipeline and 37,000+ customer touchpoints. The company also has its subsidiaries in countries like Sri Lanka, Mauritius and UAE.

    It also has 20 joint ventures with reputed firms in India and abroad; 25,000 diesel and petrol stations and also one outlet in the world highest point. IOCL also has 6000 LPG distribution stations, 6,218 bulk consumer pumps and 100 aviation fuel stations. Another interesting fact about IOCL is that it has more than 9,400 fully automated fuel stations situated in nearly 55 cities providing products and services to its customers.

    List of Fuel delivery Startups around the world
    As Covid-19 restrictions has forced all of us to stay in homes, these fuel delivery startups are providing doorstep delivery of fuel.
    StartupTalkyAlan Joseph

    IOCL Promotion Strategy

    Promotion is the most important part of Indian oil corporation limited as it led the company to become one of the most valued and trusted brands in India. IOCL realizes the impact of a good promotional plan, offers and periodic incentives to maintain its customer base. The promotion in IOCL includes advertising tools like hoardings, print advertisements and commercials on television in order to increase its brand visibility.

    Indian Oil Corporation limited marketing also includes loyalty programs like fleet cards where customers can earn points and during festive seasons some gifts would be given to consumers through a lucky draw.

    Since we have covered the 4Ps of the marketing mix, here are the other 3Ps to make it the 7Ps of the marketing mix of Indian Oil Corporation.

    People

    People play a vital role in the marketing mix of Indian oil marketing, as the company has around 33,000 employees that work in various business processes. The company recruits mainly through advertisements in newspapers and the company’s website. IOCL also spends a lot in training and development of its employees to develop their capabilities. The employees also hold equity of nearly 65 lakh shares in the company.

    Indian Oil Workplace Experiences

    Process

    The company deals in many business, distribution and people processes to serve customers and corporate clients. To remain profitable in a business, the processes used to run should be working at an optimal rate. IOCL has taken every measure to improve operational efficiency, as it maximizes the LPG extracts for a refinery that uses the INDMAX technology.

    Physical Evidence

    Indian Oil Corporation has its physical presence because of petrol pumps and gas stations not only in India but worldwide. The Indian oil logo is a saffron circle with the blue color outer ring and a blue color band in the middle of the circle with ‘Indian Oil’ written in the Devanagari script. It also has an iconic tagline known as ‘The Energy of India’ which is a rightful representation of the Company.

    Humsafar India – Success Story | Founders | Wiki | Business Model | Revenue
    Humsafar offers doorstep diesel refueling services to industries. Read about Humsafar India, founders, products, business & revenue model, challenges, funding, competitors, wiki, and future plans.
    StartupTalkyRishabh Rathi

    IOCL – Conclusion

    With over 10 refineries and pipelines network span of over 9,300 km, IOCL is the leader in the Indian market. IOCL is the 20th largest petroleum company in the world and also has a foothold in the international markets. With an excellent marketing mix, the company’s future looks bright.

    IOCL – FAQs

    What is Indian Oil Corporation Limited?

    Indian Oil Corporation Limited or Indian Oil is one of the largest Indian government-owned Oil and Gas Companies that cater to the fuel need of people across the world.

    Where is the headquarters of Indian Oil Corporation Limited?

    The headquarters of Indian Oil Corporation Ltd is New Delhi whereas its registered office is located in Mumbai, Maharashtra.

    What is the distribution channel of the Indian Oil Corporation?

    There are 20,575 retail outlets. IOCL has an outlet in the world’s highest point. The company also has 6000 LPG distribution stations, 6,218 bulk consumer pumps and nearly 100 aviation fuel stations.

    Who is the owner of the Indian Oil Corporation?

    Indian Oil Corporation is a government-owned company having its ownership under the Ministry of Petroleum and Natural Gas.

    Where is Indian Oil Corporation’s biggest refinery located?

    The Indian Oil Corporation’s biggest refinery is located in Jamnagar, Gujarat.

    What is the salary of Indian Oil Corporation employees?

    The gross salary of IOCL employees is between Rs.60,000 to Rs.1,80,000 depending on the post of the employee.

  • How does Bitcoin consumes more electricity than a whole country like Argentina?

    Bitcoins are considered to be one of the best cryptocurrencies available in the market and has the largest market capitalization among cryptocurrencies. But other than the volatility recently a new controversy has raised against the digital coin. In this article let’s look at how this cryptocurrency consumes a lot of energy which is more than the consumption of certain countries.

    Bitcoin Mining – Latest News
    How Bitcoin consumes so much energy?
    How does miners mine Bitcoin?
    Environmental Damage due to Bitcoin Mining
    Solution for Bitcoin mining
    FAQ

    Bitcoin Mining – Latest News

    Tesla had recently announced that it would not accept the payment through bitcoins for the purchase of their electric cars citing the reason that mining of bitcoins consumes a lot of energy and it is harmful to the environment. In this article let’s look at how this cryptocurrency consumes a lot of energy which is more than the consumption of certain countries.

    How Bitcoin consumes so much energy?

    The mining of bitcoins is where the major energy is consumed. It is considered to be power hungry where the top end computers are used to verify transactions that use heavy software which consumes a lot of energy.

    It is estimated that bitcoin mining consumes around 121.36-terawatt hours of energy on an annual basis which is not expected to reduce until the price or value of the cryptocurrency falls. The rising of price and demand for bitcoins will let the miners to run more and more machines which will increase the power consumption.

    It is considered that if bitcoin was country, then it would be part of the top 30 energy users around the world. It was found that bitcoin consumed more energy can certain countries like Argentina, Netherlands and United Arab Emirates.

    The energy consumed by bitcoin is expected to power up all the kettles used in the United Kingdom for the next 27 years.

    Reasons Why Elon Musk has not launched his own Cryptocurrency?
    Elon Musk is an American entrepreneur and a Business Magnate. He is the founder,Chief Engineer and CEO of SpaceX, CEO, product architect and an early-stageinvestor of Tesla, founder of the Boring company and also the co-founder ofNueralink and OpenAI. He is one of the richest men in the world. E…
    StartupTalkyAlan Joseph

    How does miners mine Bitcoin?

    If the bitcoin miners have to mine the bitcoins, they will have to connect to the cryptocurrency network using the specialized computer systems. The miners will have to verify the transactions and record them on the blockchain network and they would get a bitcoin in return as a payment.

    The miners to increase their profits they would often connect a large network of miners into the network, at times even a full warehouse of miners. This would lead to an increased usage of electricity as the computers or the systems would be working constantly to record the transactions on the blockchain network.

    In the beginning, when bitcoin was introduced, mining of the cryptocurrency was much more easier and didn’t required the high-end systems but as the demand increased the bitcoin miners are forced to use a specialized system that are fast enough to withstand the competition.

    Bitcoin Energy usage compared with other countries
    Bitcoin Energy usage compared with other countries

    Environmental Damage due to Bitcoin Mining

    David Gerard who is the author of the 50-foot blockchain had explained that bitcoin is actually anti-efficient. He conveyed that even if someone finds a hardware or a system which is efficient it would just compete with the similar hardware and make it inefficient. This means that the energy usage of bitcoin and the emission of carbon di-oxide will just increase as the demand for the cryptocurrency keeps increasing.

    Top 10 Best Cryptocurrencies to invest in 2021
    The popularity of cryptocurrencies has been increasing over the years. We wouldhave seen huge returns provided by these cryptocurrencies, with the promotion ofthese coins by Elon Musk and his company. Let’s look at the top cryptocurrenciesin the market which you can choose to invest in in the yea…
    StartupTalkyAlan Joseph

    Solution for Bitcoin mining

    The only solution as of now is to move to a sustainable source of energy. As the Tesla CEO, Elon Musk had announced that they would start accepting the bitcoins when the cryptocurrency starts using a renewable source of energy, in the same way using a renewable source of energy that is not harmful to the environment should be used.

    As electricity is generated mainly through the burning of coal, it releases a huge amount of CO2 into the atmosphere so it is suggested that bitcoin miners should resort to another sustainable source of energy.

    FAQ

    How much electricity does a Bitcoin transaction use?

    Bitcoin currently consumes around 110 Terawatt Hours per year

    Why does Bitcoin use so much energy?

    As Bitcoin gained popularity more miners started mining in it, which increased the computing power required to crack bitcoin.

    How much does it cost to mine 1 Bitcoin?

    The cost to mine one BTC is 8206.64$.

    Conclusion

    However, another important fact to be noted is that the energy consumed by the unused home appliances in the United States would be enough to power the bitcoin mining for a year. The major energy consumption in most of the countries is due to the unused home appliances.

  • How Repos Energy is Creating Sustainable Fuel Distribution Ecosystem

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Repos Energy

    Founders of Repos Energy, Chetan Walunj and Aditi Bhosale Walunj, being petrol pump owners themselves were quite aware of the inefficiencies that plague the logistics model of the industry. They wanted to eliminate these efficiencies and consequently pass on the value that is generated to the end consumer. Thus, was the born of Repos Energy. They noticed that the traditional way of procuring diesel was not only making hassles for the businesses but also created a big menace for the environment.

    Ratan Tata backed Repos energy is creating a sustainable ecosystem for the fuel distribution of India. Repos Energy have a vehicle as a product – the Repos Mobile Petrol Pump (RMPP) which helps the secure and smart delivery of diesel.

    StartupTalky interviewed Aditi Bhosle Walunj (Founder of Repos Energy) to know the Success Story of Repos Energy along with getting a glance on Repos Energy Business Model, Founders, Funding, How it Started, Revenue Model, Growth & more..

    Repos Energy – Company Highlights

    Startup Name Repos Energy
    Founder Aditi Bhosle Walunj, Chetan Walunj
    Founded 2017
    Headquarters Pune
    Sector Energy

    Lets go through the Journey of Repos Energy:

    Repos Energy – Latest News
    Repos Energy – About and Vision
    Repos Energy – Market/Industry Details
    Repos Energy – Founders and Team
    Repos Energy – Product/Services and USP
    Repos Energy – Startup Idea
    Repos Energy – Startup Launch
    Repos Energy – Startup Challenges
    Repos Energy – Name, Tagline and Logo
    Repos Energy – Business Model
    Repos Energy – Revenue Model
    Repos Energy – Funding and Investors
    Repos Energy – Campaign
    Repos Energy – Growth
    Repos Energy – Competitors
    Tools used by Repos Energy to run the Company
    Repos Energy – Recognition and Achievements
    Repos Energy – Future Plans
    Repos Energy – FAQs

    Repos Energy – Latest News

    January 2021 – Tata Motors and Repos Energy holds Energy Startup Summit 2021 to bring a “revolution” in India’s energy distribution system.

    Repos Energy – About and Vision

    Repos energy is creating a sustainable ecosystem for the fuel distribution of India. It has created an e-commerce platform where diesel consumers and delivery partners can get connected easily and be a part of a secure and transparent transaction.

    Repos Energy also have a vehicle as a product – the Repos Mobile Petrol Pump which helps the secure and smart delivery of diesel.

    Repos Energy 

    Repos Energy believes in more than just delivering diesel on the doorstep. It tends to create a healthy environment to live in and making one realize that they have infinite possibilities of being. Everyone in Repos wants to change the world for the better and make this nation a happier and prouder place to be.

    Long term vision – Redefine Energy distribution around the globe and Explore new avenues: LPG, CNG, Hydrogen fuel cell, Electric etc

    Short term vision – Ensure energy security for each and every individual in India; Farmers, Industries, Healthcare etc

    Humsafar India – Success Story | Founders | Wiki | Business Model | Revenue
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has beenapproved by the organization it is based on. An average customer procuring fuel for their usage face multiple issues when itcomes to storage, …
    StartupTalkyRishabh Rathi

    Repos Energy – Market/Industry Details

    Repos Energy is driving its force in the energy sector. The tables below indicate the market size and market share of Repos Energy. It believes that in next 5 years, Energy distribution models are going to change and consumers will get energy at the doorstep.

    Market Size (India)

    HSD Consumption

    2018-19

    2019-20

    2020-21

    2021-22

    2022-23

    2023-24

    Annual (MMT)

    84

    88

    93

    98

    103

    109

    Daily (litres)

    258,506,849

    272,724,726

    287,724,586

    303,549,438

    320,244,657

    337,858,113

    Daily (Crore litres)

    26

    27

    29

    30

    32

    34

    AMOUNT

    2018-19

    2019-20

    2020-21

    2021-22

    2022-23

    2023-24

    INR

    ₹6,604,850,000,000

    ₹6,968,116,750,000

    ₹7,351,363,171,250

    ₹7,755,688,145,669

    ₹8,182,250,993,681

    ₹8,632,274,798,333

    INR (Crores)

    ₹660,485

    ₹696,812

    ₹735,136

    ₹775,569

    ₹818,225

    ₹863,227

    USD

    $88,064,666,667

    $92,908,223,333

    $98,018,175,617

    $103,409,175,276

    $109,096,679,916

    $115,096,997,311

    USD (Billion)

    $88

    $93

    $98

    $103

    $109

    $115

    Repos planned market share

    Year

    2018-19

    2019-20

    2020-21

    2021-22

    2022-23

    2023-24

    RPP

    32

    320

    3,200

    9,600

    19,200

    32,000

    Daily HSD Volume (Litres)

    160,000

    1,600,000

    16,000,000

    48,000,000

    96,000,000

    160,000,000

    Volume % (National consumption)

    0.06%

    0.59%

    5.56%

    15.81%

    29.98%

    47.36%

    INR (Crores)

    ₹409

    ₹4,088

    ₹40,880

    ₹122,640

    ₹245,280

    ₹408,800

    USD (Billion)

    $0

    $1

    $5

    $16

    $33

    $55

    SOURCE: PPAC (Petroleum Planning and Analysis Cell)

    Repos Energy – Founders and Team

    Chetan Walunj (Engineer) and Aditi Bhosale Walunj (Forensics) are the founders of Repos Energy.

    Repos Energy Founders and Owners
    Chetan Walunj, Aditi Bhosale Walunj – Founders Repos Energy

    “It didn’t take much time to onboard Aditi. Ever since we got married, we have been dabbling in between our restaurant and the retail petroleum outlet. Although there was always one consistent goal which was to make a difference! – Says Chetan Walunj (Founder of Repos Energy)

    Chetan Walunj majorly looks after sales & Aditi Bhosale Walunj handles the marketing side of the business

    Repos Energy Team

    Repos Energy – Product/Services and USP

    The Repos Mobile Petrol Pump (RMPP) is Equipped with best-in-class technology like the Internet of Things (IoT) and Artificial Intelligence, Repos Mobile Petrol Pump is a futuristic vehicle, all set to support Businesses.

    The RMPP is a wondrous innovation of the IoT (Internet of things) technology and uses an in-house built IoT controller to make sure that it delivers diesel in the most efficient, safe and secure way. The features like Brake Interlock, Double Dispensing Unit, Geo Fencing, etc.,

    The RMPP is the most efficient, secure and reliable way of procuring diesel. It solves all the problems of the traditional way of diesel procurement like dead mileage, spillage and pilferage.

    Top Marine Transportation Companies In World – StartupTalky
    Marine transportation drives 80%–90% of global trade, moving over 10 billiontonne of containers, solid and liquid bulk cargo across the world’s oceansannually. Marine transportation can effectively and efficiently move almost anygoods, though the advent of air travel proved preferable for perisha…
    StartupTalkySouvik Dey

    Repos Energy – Startup Idea

    There was always a fire in Chetan & Aditi. A fire to aid people and change the world for the better. They always wanted to do something big which would bring some perspective to this world.

    One day, they saw this persisting and traditional problem of fuel procurement, well, they took it up and decided to change it for the better. Chetan and Aditi noticed that the traditional way of procuring diesel was not only making hassles for the businesses but also created a big menace for the environment.

    “Just when one such day we were dealing with continuous calls for diesel requirements from our retail outlet, a notification popped on my screen reading ,”Your order has been delivered” and that was our eureka moment!” – recalls Aditi

    Initially, when Chetan and Aditi approached their friends and family, they were claimed to be not thinking straight! Founders being petrol pump owners themselves were quite aware of the inefficiencies that plague the logistics model of the industry. They wanted to eliminate these efficiencies and consequently pass on the value that is generated to the end consumer. Thus, was the born of Repos Energy

    Ideation, Designing, Prototyping: RPP

    Current RMPP went through multiple iterations to make it safe, efficient, and user friendly which would enable transparent transactions thereby eliminating inefficiencies (dead mileage, spillage, pilferage, leakage, etc.)

    Repos Mobile Petrol Pump 

    Repos Energy – Startup Launch

    Initially, nobody knew about a Mobile Petrol Pump. People used to call them Bowsers. So Chetan and Aditi (Founders of Repos Energy) started out by researching their target audience. As the business is based on B2B model, they could research better in a concise format.

    For the sales of the Repos Mobile Petrol Pump (RMPP), they studied the geography of the target group i.e., The Retail Petrol Pump Outlet owners. Chetan and Aditi pitched them the new technology, legality and the superior quality of of the product, thereby gaining the trust of the dealers.

    For the consumers i.e., who brought diesel from Repos’ application, founders pitched them the experience. With the easy, efficient and transparent delivery of the diesel at their doorstep, Repos Energy got some traction quickly.

    Ratan Tata: The Accidental Startup Investor
    Today, Ratan Tata needs no introduction as he is the most respected businesstycoon in India. He is an Indian industrialist, philanthropist, former chairmanof Tata Group and Tata Sons. Post his retirement in 2012 he has turned into anavid angel investor who has left an everlasting impact. He is we…
    StartupTalkyVarad Kitey

    Repos Energy – Startup Challenges

    One of the major challenge faced by the startup was the Government regulations. But after a point of time, things sorted as they were able to convince the government that this business model was sustainable and had a power to generate employment, leading to the contribution of the nation’s growth.

    Blowhorn Success Story | Courier Tracking & Logistics | Founder | Competitors
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has beenapproved by the organization it is based on. Logistics has been a challenge for this country ever since, especially when itcomes to the first …
    StartupTalkyRishabh Rathi

    Founders of Repos Energy have always believed in the power of YES and positivity. Everything is possible if one has the positive will to fulfill dreams.

    Thus, it had to be RElentless POSitive – REPOS. Energy can neither be created nor be destroyed. It only keeps flowing. Thus they symbolized the same in the Repos’ infinite loop

    Repos Energy’s Tagline is ‘Fuelled by Yes”

    Repos Energy Logo

    Repos Energy – Business Model

    Repos Energy works on B2B & B2C business model. It Bridges the gap between supply and demand.

    • Supply Infrastructure: RPP,
    • Demand Infrastructure: Datum
    • Bridge: Platform (APP),
    • Enables: IOT, Cloud, Blockchain

    LogYcode – Making Logistics Easy and Seamless for the nation!
    Logistics and supply chain management are the most important attributes formanufacturing and servicing industries. For any business in the ecosystem, anoptimized logistical chain is a must. With the vision to create a platform or amarketplace and a central grid which will facilitate the trade sta…
    StartupTalkyVidhi Punamiya

    Repos Energy – Revenue Model

    Repos Energy’s revenue model is simple. It charges commission from the end consumers on the basis of distance, time and quantity of diesel required. The Pricing will be calculated by an algorithm developed by Repos Energy (Platform)

    Repos Energy – Funding and Investors

    Repos Energy has been funded by Chairman Emeritus of Tata Sons, Ratan Tata.

    List of 24 Startups Funded by Ratan Tata
    > “If you want to walk fast, walk alone. But if you want to walk far, walktogether.”- Ratan Tata, Tata GroupThe Tata Group [/tata-group-case-study/] has invested in numerous sectors of theeconomy over the years. Consequently, the behemoth organization has infiltrateda number of markets such as …
    StartupTalkyAshwini

    Repos Energy – Campaign

    Repos Energy is much more than just being about the sales and the numbers. When COVID-19 hit and the team realized about the situation of migrant laborers, everyone in the organization jumped in and decided to raise funds, make ration kits and go deliver them personally.

    We called that campaign ‘Lend A Hand’ and that was by far the most successful campaign we ever conducted.

    Repos Energy – Growth

    • Repos Energy is spread across India – more than 130 cities, more than 500 partners, more than 5000 consumers.
    • Repos Energy has a market share of more than 50%
    • Its plan for next 1-2 years is to develop a network of more than 19000 partners across India
    • Repos Energy is growing at a pace of 10X every year: 32-320-3200 and so on

    Top Courier & Delivery Franchise Businesses in India
    The growth of the e-commerce industry impacted the courier business. Due to moreshopping in the eCommerce platform courier business is becoming one of thefastest-growing markets in India nowadays. Courier and delivery companiesprovide various services starting from the online courier and cargo ma…
    StartupTalkySouvik Dey

    Repos Energy – Competitors

    Fuel buddy, My petrol pump, Humsafar are the Top Competitors of Repos Energy.

    Tools used by Repos Energy to run the Company

    • CRM (ZOHO)
    • ATS (Applicant tracking system)
    • G-Suit
    • Knowlarity
    • WinSMS
    • Zoom
    • SendinBlue
    • WordPress
    • Unbounce

    Repos Energy – Recognition and Achievements

    Mrs. Aditi Walunj (Founder of Repos Energy) has delivered a TED talk.

    Repos Energy – Future Plans

    Repos Energy recently launched a new campaign called the VOICE OF INNOVATION and in which they launched a new model of the Repos Mobile Petrol Pump – VO ALPHA. There are new features like Double Dispensing Unit. Repos Energy plans to grow PAN India and go global too.

    Repos Energy – FAQs

    Who are the founders of Repos Energy?

    Chetan Walunj and Aditi Bhosale Walunj are the founders of Repos Energy.

    What is mobile petrol pump?

    These mobile Repose Energy petrol pumps can deliver fuel to the customers through a mobile application

    What is Repos Energy?

    Ratan Tata backed Repos energy is creating a sustainable ecosystem for the fuel distribution of India. Repos Energy have a vehicle as a product – the Repos Mobile Petrol Pump (RMPP) which helps the secure and smart delivery of diesel.

    Who are the competitors of Repos Energy?

    Fuel buddy, My petrol pump, Humsafar are the Top Competitors of Repos Energy.

  • SOLAR ENERGY MARKET: BUILDING SUSTAINABLE INDIA

    India is furnished with vast solar energy potential. Solar is the most secure source of energy because it is abundantly available in nature. Solar power is the fastest developing industry in India. Solar power is a renewable source of energy. It is the power produced by the sun’s light. The solar energy invested reach of our nation was about 35,739 as of August 2020. There has been an eminent impact of solar power in the Indian energy scenario in the past few years.

    India has built 42 solar potential parks to make the area available to promoters of solar plants. The solar energy installed capacity of our nation was about 35,739 as of August 2020. There has been an eminent impact of solar power in the Indian energy scenario in the past few years.  India has built forty-two solar energy parks to create a realm accessible to promoters of solar plants. Rooftop solar energy is 2.1 GW, of that 70 % is industrial. By the year-end of 2015, a million solar lanterns were traded that reduced the utilization of lamp oil.  118,700 solar home lighting systems were put in, and 1.4 million solar cookers were administered in India.

    India achieved the 5th global position in solar power arrangement by surpassing Italy.

    Annual Solar Power Generation(TWh)

    Future of Solar Power Market

    The changing lifestyle of people with the increasing industrialization has made electricity a vital commodity. To decrease the concern of high electricity demand with decreasing fossil fuels, policy makers have been looking for a sustainable source of electricity generation. Solar energy is the readiest and green option available.

    The report published by IMD (Indian Meteorological Department) states that  The solar energy received is more than 15000 times the commercial energy consumption, and this energy is available during the day without any constraint.

    According to GOGLA (Global Association For the Off-Grid Solar Energy Industry), the market for distributed solar power merchandise is expected to grow more than two-and-a-half times to Rs 10,117 crore by the year 2023. Including solar lamps, solar pump kits, and other home devices. It is estimated that the current market size for distributed solar in our country is at Rs 3,878 crore, including  Rs 3,170 owned by the government and the rest by private owned entities. The sales are estimated to grow to Rs 2,617 crore in the private sector and Rs 7,500 crore in the government sector. Most of the future sales are estimated to come from lanterns with some additional services like mobile charging, radio, etc. and solar home systems. Increasing income and energy demand are the key market drivers.

    Sustainable Development through Solar Energy

    Investing in domestic manufacturing may help in building the supply chain, control prices, and earn foreign exchange through exports. This will help in creating job opportunities, increasing the GDP(Gross Domestic Product) for the nation.

    Biogas Startups In India
    Most of the Indian cities are suffering due to illegal dumping of wastes. A major part of these wastes are organic waste. Biogas technology enables us to utilize organic wastes in an effective way. Let us discuss about biogas startups in India. Some of them are given below.
    StartupTalkyATHUL C K

    Year Cumulative Capacity of Solar Power Units

    IMPACT OF COVID-19 PANDEMIC

    The imposition of a nationwide lockdown by the government to control the coronavirus outbreak harmed the whole economy. The solar industry will have immediate challenges due to the COVID-19 outbreak, such as the shortage of labor force compliance with social distancing, shortage of equipment and parts, and discrete expenditure by users. India’s solar power sector is struggling in the pandemic. There has been a decline in electricity consumption of 30% due to the lockdown of industries and markets.
    China is the largest supplier of solar raw materials such as cells, glass, back sheets, frames, junction boxes, etc. Due to the coronavirus crisis, there was a long hold on the import of such items from china, the module assembling capacity of manufacturers is being affected. There may be a rise in solar module prices shortly as the manufacturers have begun experiencing raw material shortages. The prices of various components will rise because of the decrease in supply from China. Engineering, procurement, and production companies now have to bear all the variable factors from procurement of bills of material of the panel to the manufacturing and supply chain.

    How will Small Businesses Survive during Coronavirus Outbreak?
    Apart from being a threat to public health, COVID-19[https://startuptalky.com/tag/covid-19/] has also emerged as a threat to theglobal economy. Indian Government has put restrictions on regular movement,malls, public spaces, offices. Everything except essential things has beenlocked down. During…
    StartupTalkyAshwini

    Rural Electrification

    • The scarcity of electricity is the main hitch of rural development. In 2004, about 80000 villages did not have electricity.
    • In the year 2004 more than 5000 villages were supplied with electricity through solar power systems.
    • Lighting and Lamps: By 2012, 4,600,000  solar lamps and 561,654 solar-powered lights were installed in homes.
    • Agricultural Support: Solar water-pumping systems are used for irrigation and drinking water.
    • By 2019 181,521 Solar Photovoltaic water pumping systems were installed in India. Low-cost solar vehicles are available for agricultural activities.

    34 Business Ideas To Implement In Rural Areas [In 2020]
    This post describes some incredible rural business ideas that can be launched ona full-time basis or as an afterthought. If you live in a rural area, it mayseem hard to think of business ideas. Numerous business sectors that are easilyaccessible in huge urban areas are not available in case of ru…
    StartupTalkyDevashish Shrivastava

    Government Aid

    The Ministry of New and Renewable Energy(MNRE) installed 51 solar radiation resource assessment stations across India to create a database.  India started a Rs 40 crore project to measure solar radiation. The government allocated Rs 1000 crore for the national solar mission and clean-energy fuel fund for the year 2010-2011. The government reduced import duties on solar panels by 5% which encouraged private sector companies. The Indian government also reduced the price of PV power from rs 4.43/KWh to Rs 4.00/KWh. During January 2019, the term for authorizing the production of the solar power plants was lessened to 18 months for units located outside the solar parks and 15 months for separate units from the date of the contract. In May 2020, the tariff was reduced to rs 2.90/KWh.

    Top Solar Power Companies In India

    Incentives By the Government

    • Viability Gap Funding:  The funding was Rs 1 crore/MW for open projects on average in the year 2016.
    • Depreciation: 40% of the total investment in rooftop solar systems could be claimed as depreciation in the first year.
    • 25% safeguard duty is imposed for 2 years from 2018 on the imports to safeguard the local manufacturers.
    • Capital subsidies to rooftop solar plants up to 500 KWh.
    • Renewable Energy Certificates(REC): Financial incentives for every unit of green energy generated.
    • Power Purchase Agreement(PPA): Offering fair market-determined tariff for solar power.
    • ISTS(Interstate Transmission Systems):  Charges and losses are not taxable during the period of PPA.
    • Subsidy of 70% and 30% is granted by the Union Government for hilly regions.